The crypto market is trying hard to recover following the latest corrections. Check out what the market will take to recover below.
Two elements will make the crypto market boom
It’s been revealed that there are two elements that will make the crypto market explode. Check out which they are.
FTX US president Brett Harrison has just stated the fact that here are two catalysts that could awaken crypto trading volume from its slumber.
In a new interview with Fortune, Harrison says that a rally in the digital asset markets as well as regulatory clarity from authorities could bring crypto trading volume back to life.
“There are two events that would probably bring significantly more volume. One is crypto prices going up again, sure…that’s also true for stocks. Number two, I think, is when there’s actually regulatory clarity over crypto exchanges.”
Harrison said that the recent bill proposed by US officials to empower the Commodities Futures Trading Commission (CFTC) to oversee many digital assets could be the clarity that markets are looking for.
“But let’s say that passes, and now the CFTC has oversight over, you know, Bitcoin and Ether, and FTX.US is able to register as a digital asset exchange. Every institution, every hedge fund, every family office mutual fund who wants to get exposure directly to crypto can do so on an exchange that’s explicitly federally licensed. I think that will make a huge difference.”
Harrison also stated the fact that clarity in the US could snowball elsewhere around the globe.
“There are many jurisdictions that are looking to see how the US acts, and want very much to craft their regulation around it, [and many of those nations] would look, for example, to our registration process, figuring out what disclosures are required in order for a token to be deemed listable for retail investors.”