The president of Coinbase believes the current regulatory framework hinders the advancement of cryptocurrencies. She thinks that that industry will continue growing as more users participate.
The president of cryptocurrency exchange Coinbase, Emilie Choi, recently spoke about the future of cryptocurrencies. She also commented that the uncertainty around the regulatory framework hinders the advancement of those assets.
Besides, the executive expressed her optimism about the number of people who would use cryptocurrencies in the coming years. In that regard, she estimates that there would be nearly one billion users.
The Influence of Clear and Transparent Regulations on Cryptocurrencies
Although Choi believes the adoption of crypto assets would maintain its usual pace, she clarified the need for a functional legal environment. The cryptocurrency industry could succeed with a regulatory system opening the door to those assets without many obstacles.
She highlighted that there are currently uncertainties regarding the regulations by the US government. The president of Coinbase predicted a scenario full of factors that hinder the advancement of cryptocurrencies.
She said she hopes that the government will be friendly to the cryptocurrency world. In that sense, she noted that a growing number of people are becoming interested in crypto assets. Therefore, she believes that regulators should generate clear and transparent regulations.
Instead of refusing to accept the regulatory framework, she adopts an optimistic position.
The executive also mentioned the legal environment of the firm that she leads. She added that they have over 50 regulators only in America, which they accept.
The Progress of the Community in the Years to Come
Emilie Choi thinks that the cryptocurrency industry will continue growing as more users participate in that market. In that sense, she estimates that there are currently around 200 million participants worldwide.
Additionally, the president of Coinbase believes that the scenario looks encouraging, keeping in mind that this number may reach one billion. She said that such growth would occur sooner rather than later, within five years.
Following a hearing by the firm with the House Financial Services Committee, she seemed to be in tune with the lawmakers. At the same time, some representatives of that entity said they would be willing to learn more about cryptocurrencies.
Despite that, the scenario of uncertainty continues since the long-awaited regulatory framework has not yet arrived. Amid that situation, Emilie Choi highlighted that the company would make its way although it still operates in the United States.
Now Is an Excellent Time to Buy Cryptocurrencies
Choi said that there are benefits between bullish cycles when the price of crypto assets drops. She explained that companies that invest during those periods would make significant profits when the value of cryptocurrencies increases.
An example of investors who buy the dip is Michael Saylor, the co-founder, and leader of MicroStrategy. His company has increased its market value by 337% after buying Bitcoin while the price has dropped.
The president of El Salvador, Nayib Bukele, has also purchased Bitcoin, taking advantage of the drop in its price. In that way, his government has added more capital to the coffers of the Central American nation.
By Alexander Salazar
