The $2.6 trillion market cap peak compelled the regulator worldwide to take a serious look at cryptocurrencies. However, Meltem Demirors, the chief strategy officer of CoinShare, said they also don’t want to stifle a growing industry.
Name of the Game
He also stated that uncertainty is the name of the game for this industry. He further noted that it took over the Macro-environment for the last few weeks.
Gary Gensler
Gary Gensler is the chair of the SEC. She indicated that she wants to get more serious about regulating Crypto exchanges. According to her, regulators across the world are starting to take note.
Demirors
These cryptocurrencies started this year with under $1 trillion total market cap, and they started peaking at $2.6 trillion a few weeks ago. Demirors also said that the regulators are beginning to take the asset class seriously.
Uncertainty
She further added that they would continue to see the uncertainty of why the industry investors and speculators alike wait to see how regulation shapes up. By speaking on the regulator’s perception of the market, she said that the regulators want to ensure KYC and anti-money laundering compliance.
Central Bankers warnings
Moreover, they also want to ensure market oversight without stifling the growing Crypto industry. She also stressed that Central banker’s warnings on Crypto would have an impact on sentiment.
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