A Coinbase official spoke about crypto regulations at the World Economic Forum he attended.
Tom Duff Gordon, the company’s vice president of international policy, discussed the regulatory implications of the decline of FTX at the event held in Davos.
Regulatory Emphasis from Coinbase Official
Although Tom Duff Gordon said that the crypto rally is a beacon of hope for the industry, he emphasized the importance of regulations.
Speaking to CoinDesk TV in Davos, Gordon said that cryptocurrencies have the potential for general adoption, but that it depends on regulations that “could build confidence for individual investors”.
“The year 2023 could be a real turning point for us in terms of policy”
According to Gordon, the collapse of FTX hindered crypto adoption and caused government officials to be reluctant about crypto.
Gordon stated that the collapse of FTX has put all crypto companies on the regulators’ radar.
According to Gordon, regulations need to be “reasonable and moderate” before crypto can be integrated into the existing financial system.
“We will see more institutional investors enter the crypto industry. I think traditional finance banks will also want to explore this area.”
