China remained at the front line of the anti-Bitcoin and anti-cryptocurrency trade campaign. Sheila Warren thinks that the United States would dominate in cryptocurrency concerns by 2022, citing the 2021 Capitol Hill proceedings with politicians and cryptocurrency professionals as a promising sign.
Sheila Warren’s 2022 Predictions
Sheila Warren, the World Economic Forum’s head of data, blockchain, and cryptocurrencies, believes that 2022 will be the year when the United States emerges as the huge elephant in the room when it concerns cryptocurrency legislation.
The attack China made on BTC mining and cryptocurrency trade began in 2021, causing tons of miners and various cryptocurrency services to pursue safer havens for their businesses. The United States became one of those regions, with miners flocking to Texas for the economical and plentiful sustainable energy.
While US Federal Reserve Chair Janet Yellen has earlier stated that America would not get cryptocurrency banned, a position shared by US Securities and Exchange Commission (SEC) Chairman Gary Gensler, Warren feels that today’s developments on Capitol Hill might just be the start of additional proceedings and further regulatory methods.
Dan Gallagher urges the Securities and Exchange Commission (SEC) and other regulatory authorities to pass sensible laws which would not stifle cryptocurrency development. He thinks that any future cryptocurrency legislation in the United States would safeguard investments while still preserving their freedom of choice. Some people, he said, do not like the legislative road and are trying all means to avoid it. Also, he perceives a group that includes firms including Robinhood, who are currently tightly controlled and embrace positive regulations.
During an earlier interview, Warren, who is also the co-host of the Money Reimagined podcast, predicted that the United States would make significant policy changes next year.
According to Warren, she said that if she had anticipated in 2020 that China would be the huge elephant in the room in 2021, she believes that 2022 would be the turn for the US.
She recognizes that policymaking is a lengthy process, therefore it’s impossible to predict how many reforms will be implemented by 2022. Nevertheless, she expects a spike in proceedings and other legislative activities this year, as the governments and authorities examine the cryptocurrency sector more closely.
CBDCs, NFTS, and the General Adoption of Cryptocurrency
Warren also discussed central bank digital currencies (CBDCs) in the EU and the United States, stating that the world would be watching China’s efforts to extend the usage of the digital yuan with interest. She believes the EU will outrun the US to the finishing line when it comes to releasing digital currency.
In an interview, the WEF executive member expressed enthusiasm for NFTs and stated that the cryptocurrency and blockchain ecosystem completely is poised for organizational acceptance.
Based on Warren, company adoption might have a beneficial effect on the labor market, with the value of cryptocurrency expected to rise as more people enter the business.