Belt-tightening in a downtrend will benefit the digital asset industry. About it in an interview Decrypt Messari founder and CEO Ryan Selkis said.
According to him, the departure of some companies always makes room for the prosperity of those “who survived.”
“Bear markets are good for attracting the right people. We get rid of the ballast, the expert explained.
At the moment, the cyclical process has coincided with the building of the regulatory environment. Its evolution over time could eventually lead to a bull market, Selkis suggested.
He noted the participation of representatives CFTC and the US Department of Justice at the Messari Mainnet conference organized by his company.
“There must be discussions. For the most part, officials seem to be in agreement about making more constructive decisions. It’s not like a hammer looking for a nail.” added the top manager.
Selkis and CFTC Commissioner Caroline Pham agreed that regulation could help the industry as clearer guidelines for companies are developed and jurisdiction between the CFTC and SEC.
— Messari (@MessariCrypto) September 22, 2022
Selkis had a meaningful conversation with Sanjeev Bhaskar, digital currency adviser to the US Department of Justice. They discussed the Bank Secrecy Act and the application of money transfer provider regulation to DeFi, Web3 apps, and P2P crypto trading.
Most insightful conversation with Sanjeev Bhasker of @TheJusticeDept on the application of the Bank Secrecy Act and money transmitter regulations to DeFi, Web3 applications and P2P crypto traders. pic.twitter.com/qAF7WL5a1T
— Max Dilendorf (@MaxDilendorf) September 23, 2022
Recall that in September, Selkis hinted that US President Joe Biden is too old to understand the value of cryptocurrencies and blockchain technology. So the founder of Messari reacted to the publication of the concept of regulation of the industry in the United States.
In August, a specialist called the SEC’s position on spot bitcoin ETFs fraudulent.
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