Coinshares CSO Meltem Demirors Says Crypto Has Increasing Political Power – Here's the Latest
CoinShares Chief Strategy Officer (CSO) Meltem Demirorsas believes crypto is gaining more and more power in Washington, becoming a political powerhouse.
In a recent interview with Bloomberg, Demirorsas said crypto has evolved to become a global industry from a small niche community with different perspectives and dozens of projects with various goals.
"As a result, we have seen a number of packs and trade associations forming, attempting to gather resources to use their collective power to lobby and to deploy capital to get candidates elected that are going to take action that shares their perspective may be on the direction that regulation and policy need to go."
She added that crypto is becoming a "political powerhouse" and an important part of the US regulatory ecosystem, noting that there will be more campaign contributions from crypto players going to crypto-friendly candidates.
Demirorsas also argued that the US can't continue with its regulatory stalemate, stating that other jurisdictions have already made significant improvements in establishing clear regulatory guidelines for the crypto sector.
For one, Hong Kong's financial regulator finally implemented its new regulatory framework for crypto on the first of June.
Under the new rulebook, the city-state will allow retail investors in the city to trade specific “large-cap tokens” on licensed exchanges, given that safeguards such as knowledge tests, risk profiles, and reasonable exposure limits are put in place.
The Securities and Futures Commission (SFC) of Hong Kong has also started providing licenses to crypto exchanges.
"We see strides being made in other parts of the world that do have clear guidance. We see economic activity flowing there," she said.
"So at some
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