The Future of Cryptocurrency

APR 24, 2023 | PRACTUS LLP

The Future of Cryptocurrency

Authored by Leslie R. Katz

Cryptocurrencies, blockchain, digital assets, and increasing regulation have been in the spotlight following the recent FTX scandal. But rather than being the potential end of cryptocurrency, it’s more likely the beginning of a mature and more investment-friendly era of digital assets.  

In an article I recently co-authored with Frederick Steele of Shelton & Steele, “What’s Coming to Crypto After FTX?“, we discuss the future of the cryptocurrency market following the FTX debacle. It dives deeper into the significance of the proposed Responsible Financial Innovation Act, the effects of current economic bubbles on digital assets, and the positives that come with a shift towards regulation and mainstream adoption in the cryptocurrency market. 

Major events like the FTX collapse more often lead to increased regulation as well as competition amongst exchanges, which in turn, can lead to enhancing the cryptocurrency market’s legitimacy because regulators tend to view regulated exchanges more favorably. Industry is also seeking regulatory guidance rather than guidance by enforcement. We could see more institutional investors enter the market and increased interest in decentralized finance (DeFi) and non-fungible tokens (NFTs), especially amid events like the Silicon Valley Bank failure. Indeed, Bitcoin’s price (as well as those of other tokens) has risen significantly in recent weeks, signaling a return to a level of comfort with digital assets. 

Read the entire article: “What’s Coming to Crypto After FTX” to learn more about the future of cryptocurrencies from a legal and tech-forward perspective. 

The Authors
Leslie R. Katz
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Practus, LLP provides this information as a service to clients and others for educational purposes only. It should not be construed or relied on as legal advice or to create an attorney-client relationship. Readers should not act upon this information without seeking advice from professional advisers.

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