Dante believes that responsible competition will shape the future in countries that allow it
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Dante Disparte, the head of global policy and the chief strategy officer of Circle, has said that the downturn in the crypto sector in 2022 may herald the transfer of crypto technology to more enduring companies and "steadier hands" in 2023. Dante took to his official Twitter account to state,
"Happy New Year! Following an annus horribilis for #Crypto in 2022, now more than ever demonstrable utility value is the order of the day. Sharing my @wef #WEF23 reflections on what the future holds and how @circle is navigating turbulence."
Dante believes that responsible competition will shape the future in countries that allow it. Despite the significant harm that cryptography and blockchains have caused when misused by the wrong people, these tools will remain essential components of the modern economic toolkit.
He went on to say that, like the failure of FTX, all "crypto" losses caused by criminality, or fraud, to the bottom regulatory arbitrage, should be categorically rejected, prosecuted and consigned to history. If policymakers, legislators, and regulators do not act on their own calls for a digital asset rulebook, the next crypto crisis may not be as easily contained in the real economy.
Disparte further highlighted the growing use of crypto in the financial services sector in an article for The World Economic Forum (WEF). He suggested that the ongoing bear market and exchange collapses may turn out to be a blessing for the crypto industry. This may open doors for "responsible, always-on internet finance." He said,