“He was a fairly low voice in those early conversations, she said. “In the last 18 months, he has been talking about the risk of crypto, the need for the regulatory perimeter within the United Kingdom to be expanded to include crypto.”
Park argued that increasingly there was a realisation there isn't as much time as many would like and there is going to be a need for intervention sooner rather than later.
“Now is the moment to think about what politicians care about when it comes to crypto,” she said. “Now is the moment to look at public polling and sentiment and media interest when it comes to crypto because that is what's going to drive the debate.”
She explained that this is going to drive the regulation and what is needed to start thinking about it in terms of potential future political, regulatory and policy risk.
“[This will be] far more than whether the latest coin or NFT has gone up or down or sideways or has lost its peg or gained its peg or is still trying to justify exactly what makes up the assets sitting behind the point,” she said.
“All of those things are important. All of those things are interesting. But I don't think it's those things that can drive what we see over the next six months to two years in this space.”
sonia.rach@ft.com
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