Brett Harrison Thinks Regulatory From Authorities Is An Important Factor For The Market
Harrison tells Fortune in a recent interview that a rebound in the digital asset markets, as well as regulatory certainty from authorities, might bring crypto trading activity 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.”
According to Harrison, the new measure proposed by US officials to enable the Commodity Futures Trading Commission (CFTC) to govern numerous digital assets may provide the transparency that markets want.
“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 believes that clarity in the United States might spread to the rest of the world.
“There are many jurisdictions that are looking to see how the US acts, and want very much to craft their regulation around it, 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.”
It can be said that the two factors that Harrison mentioned are also the current problems of the crypto market. Bitcoin is not gaining momentum and the policy of US lawmakers is getting tighter and tighter.
At the time of writing, BTC is trading at $18,872.
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