A “very different picture” awaits bitcoin (btc) and crypto holders in the next crypto spring, a senior Ukrainian The politician has warned – as crypto exchanges begin to lose their grip on the sector.
Daniil Getmantsev, chairman of the Committee on Finance, Taxes and Customs Policy of the Verkhovna Rada, warned this. MP told Glavcom:
“At the end of this crypto winter, a completely different landscape is likely to emerge for the cryptocurrency market this coming spring.”
Getmantsev explained that the crypto world operates “according to the laws of the financial world”.
But, he noted:
“Exchanges are currently going through a crisis. They provide cryptocurrencies with liquidity, stability and relatively objective information about token prices. If there are no exchanges in the crypto market, there is no way to know about the price of these currencies. There will be no objective information.”
Getmantsev equated the collapse of crypto exchanges to the “collapse of the stock market”.
More Reasons Why Crypto Spring Could Be Challenging
Getmantsev also had a warning for those who expect that “legalization of cryptocurrencies” will provide a significant revenue boost to the government – mainly because “some cryptocurrencies are losing value significantly.”
they talked about Crypto “Legalization” Efforts in UkraineWhich he claimed would not give a boost to this sector as well.
He elaborated:
“I certainly would not underestimate the fiscal impact of legalization of cryptocurrencies. This issue should be approached very carefully. After the bankruptcy of several large cryptocurrency exchanges, investors are withdrawing crypto from exchanges and moving coins to independent crypto Trying to store in wallet.
In fact, Getmantsev suggested, pro-crypto legislation could even be put on hold in Ukraine. He concluded:
“It is worth seeing what decisions are made by regulators in countries that have attempted to bring cryptocurrencies into their legal systems. Haste can have very negative consequences in Ukraine. There is already a great demand for foreign exchange withdrawal due to war [with Russia],
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