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A recent speech by SEC Chairman Gary Gensler, where he stated that the crypto industry is “full of scams.” It caused a number of vibrant discussions in the crypto community. Despite this, at the beginning of the year a positive decision was made to launch a Bitcoin ETF.
In response to this statement, Vladimir Okhotnikov of Floralia company, released comments in an expert article. It provides an in-depth analysis of the current situation in the cryptocurrency market and proposes an innovative approach to assessing and forecasting its dynamics.
Vladimir Okhotnikov expresses the opinion that the contradictory rhetoric on the part of the head of the SEC raises a number of questions. The expert notes that, on the one hand, Gary Gensler warns about the dangers of cryptocurrencies, including high volatility, lack of transparency and risks of fraud. But on the other hand, it makes decisions legalizing certain cryptocurrency financial products.
Such multidirectional statements and actions on the part of the SEC, according to Vladimir Okhotnikov, create uncertainty regarding the regulator’s position on cryptocurrency issues and raise natural questions among market participants.
Commenting on the Nasdaq report on financial crimes for 2023, Vladimir Okhotnikov notes that neither Bitcoin nor other cryptocurrencies were ever mentioned in this document. Instead, the focus was on the traditional financial system.
According to the expert, this may indicate that institutional investors and analysts do not consider cryptocurrencies to be a key source or “root of the problem” in the field of fraud and illegal financial transactions.
Vladimir Okhotnikov emphasizes: “The Nasdaq report recorded the colossal scale of financial crimes passing through traditional banking channels - about $3.1 trillion in 2023. At the same time, the share of cryptocurrencies in these illegal operations looks insignificant against the backdrop of such impressive volumes.”
For an expert, the lack of mention of cryptocurrencies in this report is significant. He emphasizes that the share of cryptocurrencies in the total volume of financial crimes looks incomparably smaller compared to the traditional banking sector. This refutes the popular belief that cryptocurrencies are the main tool for illegal financial transactions.
The article touches on the need to reform global regulation. There is a trend towards increasing restrictions on cross-border capital flows, which effectively blocks opportunities for economic cooperation at the international level.
Vladimir Okhotnikov: “The current situation requires a comprehensive reform of existing global regulatory institutions, such as the World Bank and the IMF. These organizations must adapt their governance mechanisms to rapidly changing geopolitical and economic conditions.”
Finally, a selective approach to regulation was noted, which raises questions. The expert notes that policymakers, instead of tightening regulations for the crypto industry, should first focus on carefully monitoring the activities of traditional financial institutions.
The company Floralia specializes in researching financial markets, including the cryptocurrency industry. The company was founded by the famous expert Vladimir Okhotnikov, whose name is strongly associated with this organization. A key focus of the company's analysis is assessing the contrast between the SEC's harsh rhetoric against cryptocurrencies and its apparent ignorance of large-scale financial crimes in the traditional banking sector. Floralia experts offer an innovative approach to predicting the dynamics of the cryptocurrency market in light of these contradictory trends.
Vladimir Okhotnikov's Press Center
https://vladimirokhotnikov.com/
Floralia, LLC
Phone: +7(771)317-20-55
Address: Kazakhstan, 041609, Almaty region,Talgarsky district, Besagasky rural district, Besagash village, Rayymbek Batyr st, 285
