FTX Crash Aftermath: Analyst Says Important Crypto Regulations Incoming

Mark Moss predicted that Bitcoin's price will touch $33,000 per unit and it could even go beyond $38,000 in 2023.

Moss informed Makori that considering crypto tokens as securities will result in complete disclosure of investors' details. ( Image Source :Getty )

Mark Moss, noted analyst and the CEO of Market Disruptor, has predicted the imminent introduction of significant crypto regulations in the industry after the meltdown of FTX. He believes that there won't be any crypto bull runs in the near future. However, Moss stated that Bitcoin will shine through all the incoming shake-ups in the crypto industry. This is because it has been "solving a problem that has plagued humanity from day one," according to a report by Bitcoin.com. Moss said all this while speaking to Michelle Makori, the lead anchor of Kitco News, about Bitcoin and the crypto industry, on December 29 last year. He believes that work on crypto regulations accelerated after the FTX crash towards the end of last year. 

According to him, most cryptocurrency assets will face regulations in the form of securities in the near future. For instance, the US Securities and Exchange Commission (SEC) has levelled charges against FTX co-founder Sam Bankman-Fried. It also defined FTX's exchange token, FTT, as an unregulated security.

Not just that, a New Hampshire court also expressed its agreement with the SEC in a lawsuit against LBRY, which said that the language and manner in which the court's decision was impacted "sets an extraordinarily dangerous precedent." 

Moss informed Makori that considering crypto tokens as securities will result in complete disclosure of investors' details. He said, "Imagine Ethereum going through full disclosure. Who created the token? How many [coins] are controlled by insiders?"

He also added, "What’s the connection between the Ethereum Foundation, Joseph Lubin, and Vitalik Buterin? Who controls the tokens in The Merge lockup?… I can’t imagine they’d want to [go through full disclosure]."

He explained that some crypto business moves offshore, but US investors' money doesn't go into these projects. He said that American venture capital companies can not skate past US regulations to try to invest in obscure markets. 

Moss said he does not think there will be any crypto bull run in the future. Only Bitcoin will emerge as the most profitable cryptocurrency during the upcoming industry shake-ups. According to him, Bitcoin is a "technological revolution that changes the course of humanity and drives financial markets."

According to the Bitcoin report, he said, "Now is the time [regulators] are going to be forced to react. The SEC looks horrible … the [SEC’s] number one job is to protect consumers, and they have failed. I believe [the FTX collapse] is going to force [regulators] to act."

He has also predicted that Bitcoin's price will touch $33,000 per unit and it could even go beyond $38,000 in 2023. Praising Bitcoin, he said, "I can have custody of [Bitcoin] and if I want to send it to you, nobody could stop it, block it, or prevent it."

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.