• Kelvin O’Leary believes that more regulation of crypto markets will help prevent collapses like the one experienced on FTX.
• O’Leary believes that the hearings and U.S. Senate will force players in the crypto space to become more responsible.
• O’Leary suggests that better regulation of native tokens will help prevent fraud in the industry.
The recent collapse of FTX has left many crypto personnel with questions and predictions regarding the situation. In a recent interview with Kitco news on youtube, renowned crypto personnel Kelvin O’Leary spoke on the topic, expressing his belief that another FTX-like collapse should not be ruled out just yet as regulation gets better.
O’Leary shared his macro view on the situation, stating that crypto is now more enjoyable than ever as we have reached the peak of regulation in the sector. He believes that code is good as the hearings and the U.S. Senate will force players in the crypto space to step up and try to do everything right. O’Leary also shared his insight from meetings he had with several lawmakers, noting that the lawmakers are growing exhausted from the continuous hearings they have to put up due to these setbacks popping up now and then in the sector.
O’Leary believes that the introduction of better regulation into the crypto market will help all parties involved. He asserts that all the drama regarding unregulated exchanges and tokens would soon disappear, leaving a better market for every crypto lover. O’Leary also suggests that better regulation of native tokens will help prevent fraud in the industry, as he believes native tokens are the core root of fraud carried out by these exchanges.
To that end, O’Leary believes that regulators will soon launch a passport system in major markets to help address the issues in the sector. He believes that this will help better the industry and create a much safer environment for people to invest in.
Overall, O’Leary’s stance on regulation in the crypto sector is one of optimism and hope. He believes that with better regulation, we can all enjoy the benefits of crypto without having to worry about the negative aspects of it. With the introduction of new regulations, O’Leary is confident that the crypto sector will continue to thrive.