With the new administration just two months away, crypto savants like Benchmark Managing Director and Senior Research Analyst Mark Palmer are focused on how the entire industry could change quickly. Palmer spoke with Yahoo Finance Executive Editor Brian Sozzi about the opening bid, discussing his hopes for the kind of changes the country would experience with a new administration.
Palmer explained that the main expectation is that crypto supervision will change. “The SEC under Gary Gensler as commissioner has used what is known as 'regulation by enforcement,' which is a way of saying that they really had no framework by which they regulated the space… This has been a major problem from the institutional adoption stance, because if you're an institutional investor, the last thing you want to do is get involved in an emerging asset class and suddenly have a federal regulator come in and shut down your project.”
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This post was written by Rachael Lewis-Krisky, producer for Opening Bid.
