That next phase of crypto
It is no longer a rumor that the bank of England is preparing for their first ever-digital pound and it should not be a surprise to you that Ripple is on the advisory board. This is another way to ask about their true intention which is to launch their digital currency on the Ripplenet. CBDCs are set to be the next phase of crypto, which will help the world merge fiat and crypto together in a smooth way. But unfortunately, due to the lack of clarity, this move has been slowed down. One of the biggest cases that seem to bring regulations into the limelight is the FTX case.
We all know the crypto exchange company had a few politicians in their back pockets. However, the day of reckoning is upon them and also FTX has threatened these politicians to give back their donations or they will sue them. These politicians are going to get what is coming for them but I didn't see this coming. The one person the FTX should go for directly should be Gary Gensler. This guy has single-handedly caused the market to crash and with the approach to the crypto market, we expect nothing but the worse for the future.
The best that can happen for the crypto, and probably the whole IS market would be for Gary Gensler to step down. This way, we can expect new regulations to happen faster and the market to be in a safer and more welcoming environment. But as long as Gary Gensler holds the office, the crypto market is headed to a serious crash that makes FTX look like a little one. The rest of the world seems to embrace the thought of a CBDC financial future and that means we can expect CBDC something this year. However, if CBDCs are launched in other countries before the United States, that could be the beginning of the end of the US dollar as a world reserve currency.