Renowned investor Raoul Pal thinks, that regulators are beginning to understand the value of cryptocurrencies and this could be the reason for a profitable compromise for the industry
The CEO of Real Vision noted, that regulators are trying to apply ordinary securities laws to the complex and newly emerging crypto sector:
“The traditional system tries to understand, how can these laws be applied. We saw this with the Bitcoin ETF example.. They are trying to use the current regulatory framework that is not suitable for this.. The easiest way out would be to apply the most rigid option.: everyone will go to jail and this is all illegal "
But Pal noted, that regulators are beginning to understand the volume of the cryptocurrency market, therefore, there may be laws specifically designed to manage digital assets:
“Regulators quickly realized, what amounts are behind the cryptocurrency market and how many young people (and therefore potential votes) they are interested in. I guess, that a grand compromise awaits us and it will not be a securities law, and there will be new laws on digital assets "
According to Pal, It may still take a significant amount of time for the United States to, to sort it out:
"I expect, that there will be a lot of noise and threats, but this is just a negotiation tactic, because everyone wants to bend their own line. I guess, that within 3 years a grandiose compromise will be reached. So don't expect, that everything will pass quickly "