{"id":48542,"date":"2023-08-15T05:43:00","date_gmt":"2023-08-15T09:43:00","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/coinshares-cso-meltem-demirors-says-crypto-has-increasing-political-power-heres-the-latest\/"},"modified":"2023-08-15T05:43:03","modified_gmt":"2023-08-15T09:43:03","slug":"coinshares-cso-meltem-demirors-says-crypto-has-increasing-political-power-heres-the-latest","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=48542","title":{"rendered":"Coinshares CSO Meltem Demirors Says Crypto Has Increasing Political Power \u2013\u00a0Here&#8217;s the Latest"},"content":{"rendered":"<div>\n<p><strong>CoinShares\u00a0<\/strong>Chief Strategy Officer (CSO)\u00a0<strong>Meltem Demirorsas<\/strong>\u00a0believes crypto is gaining more and more power in\u00a0<strong>Washington<\/strong>, becoming a political powerhouse.<\/p>\n<p>In a\u00a0recent interview with Bloomberg, Demirorsas said crypto has evolved to become a global industry from a small niche community with different perspectives and dozens of projects with various goals.\u00a0<\/p>\n<blockquote>\n<p>&#8220;As a result, we have seen a number of packs and trade associations forming, attempting to gather resources to use their collective power to lobby and to deploy capital to get candidates elected that are going to take action that shares their perspective may be on the direction that regulation and policy need to go.&#8221;<\/p>\n<\/blockquote>\n<p>She added that crypto is becoming a &#8220;political powerhouse&#8221; and an important part of the US regulatory ecosystem, noting that there will be more campaign contributions from crypto players going to crypto-friendly candidates.\u00a0<\/p>\n<p>Demirorsas also argued that the US can&#8217;t continue with its regulatory stalemate, stating that other jurisdictions have already made significant improvements in establishing clear regulatory guidelines for the crypto sector.<\/p>\n<p>For one, Hong Kong&#8217;s financial regulator finally implemented its new regulatory framework for crypto on the first of June.<\/p>\n<p>Under the new rulebook, the city-state will\u00a0allow retail investors\u00a0in the city to trade specific \u201clarge-cap tokens\u201d on licensed exchanges, given that safeguards such as knowledge tests, risk profiles, and reasonable exposure limits are put in place.<\/p>\n<p>The Securities and Futures Commission (SFC) of Hong Kong has also\u00a0started providing licenses\u00a0to crypto exchanges.\u00a0<\/p>\n<p>&#8220;We see strides being made in other parts of the world that do have clear guidance. We see economic activity flowing there,&#8221; she said.<\/p>\n<blockquote>\n<p>&#8220;So at some point, I believe this becomes a matter of national interest, a matter of economic interest to ensure that America remains competitive.&#8221;<\/p>\n<\/blockquote>\n<h2>Investors Are Taking Risks Off the Table<\/h2>\n<p>When asked about the overall crypto market condition, Demirorsas said that there is a lack of interest among traders.\u00a0<\/p>\n<p>She mentioned that crypto products that are publicly listed saw inflows of around $750 million over the year.\u00a0<\/p>\n<p>However, there have been outflows over the past week as a result of investors taking profits and reducing risk exposure. &#8220;We are still very much in a risk-off environment,&#8221; she said.\u00a0<\/p>\n<p>Demirorsas&#8217;s comments come in light of heightened scrutiny of crypto firms by US regulatory agencies, including the\u00a0<strong>Securities and Exchange Commission<\/strong>\u00a0and the\u00a0<strong>Commodity Futures Trading Commission<\/strong>.\u00a0<\/p>\n<p>Earlier this year, the CFTC\u00a0announced\u00a0that it is suing\u00a0<strong>Binance\u00a0<\/strong>and founder\u00a0<strong>Changpeng &#8220;CZ&#8221; Zhao<\/strong>\u00a0on allegations that the crypto exchange knowingly offered unregistered crypto derivative products in the US in the transgression of the law.<\/p>\n<p>Likewise, back in June, the\u00a0SEC sued Binance and its CEO\u00a0for their \u201cblatant disregard of the federal securities laws,\u201d unveiling 13 charges against the platform, including operating an unregistered exchange.<\/p>\n<p>The commission has also taken enforcement action against crypto exchanges Kraken<strong>\u00a0<\/strong>and\u00a0<strong>Bittrex<\/strong>, as well as crypto lending platform\u00a0<strong>Nexo<\/strong>\u00a0so far this year.\u00a0<\/p>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/coinshares-cso-meltem-demirors-says-crypto-increasing-political-power-heres-latest.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CoinShares\u00a0Chief Strategy Officer (CSO)\u00a0Meltem Demirorsas\u00a0believes crypto is gaining more and more power in\u00a0Washington, becoming a political powerhouse. In a\u00a0recent interview with Bloomberg, Demirorsas said crypto has evolved to become a global industry from a small niche community with different perspectives and dozens of projects with various goals.\u00a0 &#8220;As a result, we have seen a number [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":48543,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-48542","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Coinshares CSO Meltem Demirors Says Crypto Has Increasing Political Power \u2013\u00a0Here&#039;s the Latest | iFintechWorld<\/title>\n<meta name=\"description\" content=\"CoinShares\u00a0Chief Strategy Officer (CSO)\u00a0Meltem 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