Tezos Co-Founder: U.S. ‘Consecration’ of Crypto Means Less Regulatory Ambiguity

Bitcoins Recent ‘parabolic’ price rise reflects greater regulatory certainty in ‘major markets like the US’, he says Tezos co-founder Kathleen Breitman.

Breitman argued at the Web Summit that “the parabolic rise in Bitcoin’s price this week is a reflection of this lack of ambiguity in the US,” arguing that “now there is much less ambiguity about the status of cryptocurrencies in major markets like the In the US there will be more things like linking real world assets to cryptocurrencies as it will be easier to navigate the regulations.

The Tezos co-founder added that the adoption of “things like ETFsand more broadly, prediction markets and stable coinsis really encouraging that there may be other use cases on the horizon,” such as mainstream crypto gaming. Meme coins, she said, are an “extension of NFTs” for community building, “essentially creating a peer-to-peer, stateless nation.”

Crypto has been “an overcapitalized industry for the last five or six years,” Breitman said, arguing that while there is “some economic value or some kind of problem being solved,” it is overshadowed by a “speculative passion.”

She compared the effects of crypto’s overcapitalization to the railroad boom of the 19th century, when passengers had to transfer on major rail lines because “they basically hadn’t standardized the track sizes between the two places.” That situation is reflected in the crypto industry, where “the disadvantage of being grossly overcapitalized is that there is no strong incentive to reach good standards between competing entities or competing projects.”

With regulatory certainty, Breitman said she hopes to see more focus on the “technical underpinnings” of crypto, such as wallet infrastructure. She added: “Hopefully we’ll see some more serious players enter the space as a result of the commitment to it by, implicitly, the US government – ​​or at least that’s the way the market has interpreted the arrival of the Trump administration .”

Edited by Stacy Elliott.