Researchers: Trust Will Return to Crypto Markets in 2023 – For These Reasons
Researchers at the South Korean crypto exchange Bithumb have predicted that trust will return to crypto markets next year – and have outlined three key reasons shaping their thinking.
The exchange is one of the two biggest in the nation, and operates a dedicated analysis and research department named the Bithumb Economic Research Institute. The institute is charged with examining market trends.
Per the media outlet Business Post, the institute’s 2023 Cryptoasset Policy Outlook contains a number of predictions about the near future of crypto markets as politicians prepare a fresh round of regulations for the industry.
Here are the researchers’ reasons for optimism in the year ahead.
The researchers picked the lawsuit that has pitted Ripple against the Securities and Exchange Commission (SEC), as the “most noteworthy event in 2023” in the crypto scene. They explained that the United States is the “center of the crypto market.” And they pointed out that the conclusion of the case would be a pivotal moment for crypto.
Should the SEC win, the researchers predicted that a slew of high-cap tokens would fall under the SEC’s remit. The SEC, it added, was likely to be less forgiving in its approach to regulations than the Commodity Futures Trading Commission (CFTC), which has a “lower level of regulation.”
A win for Ripple executives would ensure that the SEC’s rules do not apply to most coins, they noted. A settlement may result in a stalemate, however.
The researchers opined that it was not very “realistic” to expect Congress to pass any of the existing crypto-related bills that have been proposed to the House before the end of the current session (January 3). After this point, all existing draft bills will be repealed, they noted.
That
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