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This Is What Will Happen Next In Crypto
The Emperor will show you the true nature of the Force. He is your Master now
The third-largest crypto exchange recently collapsed, causing widespread contagion.
The latest casualty is the Gemini Earn program, which has today halted withdrawals.
Crypto prices are declining rapidly, and panic is in the markets, here’s what will happen next.
Crypto regulation will be accelerated
Aside from allegedly defrauding customers out of billions of dollars, FTX CEO Sam Bankman-Fried was also responsible for championing crypto regulation.
The bill he was working on is likely to go ahead, probably at an accelerated pace.
The bill, known as the Digital Commodities Consumer Protection Act (DCCPA) seeks to give the Commodity Futures Trading Commission oversight of the crypto spot market.
This will mean that crypto exchanges would be regulated in a way similar to commodity dealers.
Activities such as the commingling of customer funds (something that led to the FTX collapse) would be strictly prohibited.
It’s likely such a bill would bring much-needed clarity to the market and garner…
