• Gabriel Shapiro, a US attorney with more than a decade of experience, has made predictions for the coming year 2023 in terms of US crypto law.
• He predicts that there will be a money laundering issue related to cryptocurrencies uncovered on a national level.
• He also suspects that, under regulatory pressure from the U.S. Securities and Exchange Commission, at least one major crypto project will register its existing token or smart contract system as a security with the SEC as part of a comprehensive pre-litigation settlement.
The world of cryptocurrency has experienced a tumultuous year in 2022 with the collapse of numerous fraudulent and overleveraged companies. One of the most prominent and impactful of these was the collapse of FTX and its entanglement in US politics. This has given crypto advocates and US lawmakers alike ample reason to call for tighter regulation of the crypto industry in the coming year. In light of this, US attorney and legal counsel at crypto company Delphi Labs, Gabriel Shapiro, has made his predictions for the upcoming year of 2023.
Shapiro believes that the US will uncover a major money laundering issue related to cryptocurrencies on a national level. He cites the example of FTX, which could be revealed to have been connected to “Iran-Contra style arms smuggling to Ukraine”. He also predicts that, under regulatory pressure from the US Securities and Exchange Commission, at least one major crypto project will register its existing token or smart contract system as a security with the SEC as part of a comprehensive pre-litigation settlement. He further suspects that a CEX bankruptcy will expose a major mistake by a prestigious law firm.
Shapiro’s predictions come at a time when the crypto industry is in a precarious position in the US. The looming threat of heavy regulation, especially in the wake of the FTX incident, has put the industry on edge and it remains to be seen whether Shapiro’s predictions will come to fruition. Regardless, the coming year is sure to be an interesting one for the crypto industry and its advocates.