• Mark Moss, CEO of Market Disruptor, predicts that significant regulation is coming to the cryptocurrency industry following the collapse of FTX.
• Moss believes that future cryptocurrency bull runs won’t happen and that most cryptocurrency assets will be regulated as securities in the future.
• However, Moss believes that Bitcoin will endure as it is “solving a problem that has plagued humanity from Day One.”
Mark Moss, the CEO of Market Disruptor, recently spoke to Michelle Makori, the lead anchor of Kitco News and the company’s editor-in-chief, about the cryptocurrency industry and bitcoin (BTC). He believes that the recent FTX collapse has accelerated the coming of regulation, and he thinks that most cryptocurrency assets will be regulated as securities in the future.
Moss explained that the U.S. Securities and Exchange Commission’s (SEC) charges against FTX co-founder Sam Bankman-Fried define FTX’s exchange token, FTT, as an unregulated security. He also mentioned how a New Hampshire court sided with the SEC in the lawsuit against LBRY, and LBRY said the language used to sway the court’s decision “sets an extraordinarily dangerous precedent.”
The Market Disruptor executive and author of the ”The Un-Communist Manifesto” believes that deeming most crypto tokens as securities will likely force projects to create full disclosures for investors. He said that “Imagine Ethereum going through full disclosure. Who created the token? How many [coins] are controlled by insiders?”
Moss also predicted that future cryptocurrency bull runs probably won’t happen, but he believes that Bitcoin will continue to see demand as it is “solving a problem that has plagued humanity from Day One.” He believes that the cryptocurrency industry will be subject to significant regulation in the near future and the challenges associated with this will be overcome.