The issue of crypto regulation is highly discussed in the United States. Many players in this industry have already expressed their dissatisfaction. Especially with regard to the way it is implemented by regulators. Few, however, like Hong Fang, think the situation is short-lived.
Anti-crypto regulations: a transitional situation?
In recent months, the SEC has been the target of much criticism. Its inflexible policy of regulating the crypto industry is fundamentally questioned. The actors accuse him in particular of overstepping his functions instead of making available a set of clear rules. The situation is such that politicians have joined the debates, sometimes taking a stand against the SEC.
In an interview on Monday, May 8, Hong Fang, the boss of the OKX exchange spoke on the subject. The manager seems to understand the dissatisfaction of the crypto industry players. His position, however, does not agree with theirs in every way.
What the CEO of OKX thinks is that the anti-crypto stance is not meant to last forever. Because regulation has become an inevitable thing, which is part of the normal evolution of things. In fact, the crypto firms which, for a long time, navigated in a no man’s land should adapt to it.
“People debate a lot about whether or not we need rules. I think we have reached a point of no return, and we should accept it and adopt regulations, at least clear, so that entrepreneurs, engineers and developers have an adequate framework to build the future », Fang said.
And to add: “I am optimistic that the US market remains a solid market for cryptocurrencies. I don’t think the regulatory ambiguity will last forever, but we’ll see.”
As optimistic as Fang’s view may seem, it does not hide the fact that currently the US market is lagging behind. Elsewhere, such as in Europe, the implementation of regulations is progressing. It is absolutely not perfect, she underlines. But it has the merit of advancing by progressive leaps. A dynamic that has nothing to do with the status quo of the American method. Because it makes it possible to improve established rules over time.
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