A top executive from crypto exchange OKX says that anti-crypto regulations in the US are only temporary and that the American digital asset sector will become strong again.
In a new interview on The Wolf of All Streets podcast, OKX president Hong Fang tells host Scott Melker that she doesn’t expect crypto regulations in the US to remain ambiguous forever.
“I’m very hopeful that [the] US market will continue to be a strong market for crypto. I don’t think that the regulatory ambiguity will last forever, but we’ll see.”
According to Fang, the crypto industry should strive to embrace regulations – especially if the guidelines are clear and transparent.
“People have a lot of debate around whether we need regulations or not, but I do think that we’re at a point where there’s no way going back, and we should embrace it. We should embrace regulation, at least regulatory clarity, so that there is a proper framework for entrepreneurs and engineers and developers to actually build for the future.”
Fang goes on to note that almost every other jurisdiction has clear crypto regulations. While the regulations in other geographies may not be the best, she says clarity is still better than what the US currently has.
“Every other jurisdiction has moved forward… I think for average restriction, they at least try to send the signal of ‘Okay here’s how we’re going to do it,’ and then you can optimize on top of that, [but] the US is still kind of wishy-washy.”
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