FTX US president Brett Harrison reportedly says there 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 says 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 says 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.”Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Elena11