Mark Moss Predicts Regulatory Shakeup and End of Crypto Bull Runs, but Believes Bitcoin Will Endure – Bitcoin News
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According to Mark Moss, CEO of Market Disruptor, significant regulation is coming to the cryptocurrency industry after the FTX debacle. He believes future cryptocurrency bull runs are unlikely to happen. However, Moss says there will continue to be demand for bitcoin because it “solves a problem that has plagued humanity since day one.”
Market Disruptor CEO Predicts Regulatory Change After FTX Collapse, Sees Most Crypto Assets Regulated as Securities in Future
On 12/29/2022, Mark Moss, CEO of Market Disruptor, spoke with Kitco News Lead Anchor and Company Editor Michelle Makori about the cryptocurrency industry and bitcoin (BTC). Moss believes that the recent FTX debacle has accelerated regulation, and he believes that most cryptocurrency assets will be regulated as securities in the future. For example, recent US Securities and Exchange Commission (SEC) charges against FTX founder Sam Bankman-Fried define FTX’s ticker symbol, FTT, as an unregulated security.
As another concrete example, a New Hampshire court also sided with the SEC in a lawsuit against LBRY, and LBRY said the language used to reflect the court’s decision “sets an extraordinarily dangerous precedent.” Moss told Makor that treating most cryptocurrencies as securities will likely force projects to create complete disclosures for investors. “Imagine Ethereum going through a full disclosure,” Moss said during the interview. “Who made the mark? How many [coins] are controlled by insiders?”
Director and author of Market Disruptor “Non-Communist Manifesto” added:
What is the connection between the Ethereum Foundation, Joseph Lubin and Vitalik Buterin? Who controls the tokens in The Merge lockup?… I can’t imagine they would want to [go through full disclosure].
Moss said it is likely that some crypto projects will go offshore, but he stressed that he believes that money from US investors will not follow those projects. “Sure, the SEC is clamping down and [cryptocurrencies] goes offshore… to some small jurisdiction,” Moss told Makori. “But American VCs can’t skate past US regulations to try to invest in these small, obscure markets. Sure, it moves to another country…but the money doesn’t go with it, which drives the whole market cap.”
While Moss doesn’t expect another altcoin era or crypto bull run, he believes the leading crypto asset Bitcoin (BTC) will continue to thrive. Moss claims that BTC is a “technological revolution that will change the course of humanity and drive financial markets.” Moss continued to say that he doesn’t want the regulatory hammer to fall, and continued to insist that he’s just explaining the case as he sees it unfold. Moss stressed:
Now is the time [regulators] have to react. The SEC looks awful… [SEC’s] the most important job is to protect consumers and they have failed. They should shut down in disgrace and close shop… Of course that’s not going to happen, but they have to regain trust somehow and I believe [the FTX collapse] intends to force [regulators] act.
Moss predicts Bitcoin price to rise to $33,000-$38,000 next year, discussion of securities classification in the crypto industry
In 2023, Moss expects BTC to reach $33,000 per unit and possibly even $38,000. “Bitcoin solves a problem that has plagued humanity since day one, which is how do I secure my assets so they can’t be manipulated, seized or stolen?” Moss pointed out. “I can have custody [Bitcoin] and if I want to send it to you, no one could hinder, hinder, or prevent it.”
There is much debate about whether certain cryptocurrencies should be considered securities, and regulators in the United States have not reached a complete consensus. For example, SEC Chairman Gary Gensler has said that most cryptocurrencies are securities, and he once said that “the law is clear on this.” “I believe, based on the facts and circumstances, that most of these tokens are securities,” Gensler said in an interview.
Gensler also once stated that he can confirm that Bitcoin (BTC) is a commodity, but that is the only crypto token he would talk about in this way. In May, Rostin Behnam, chairman of the US Commodity Futures Trading Commission (CFTC), said he could say with certainty that Bitcoin is a commodity. “Well, I can say for sure that bitcoin… is a commodity. Ether as well,” Behnam elaborated in his interview with CNBC.
What do you think of Mark Moss’ recent conversation with Michelle Makori about the cryptocurrency industry? Share your thoughts in the comments section below.
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