deVere Group CEO Nigel Green has a one-eyebrow-raising, crypto-regulation-related take regarding Ernst Blofeld (aka Swiss/German economist Klaus Schwab) and his World Economic Forum’s plans.

The WEF’s annual meet is underway in Davos, Switzerland at the moment – minus 007, who, in Coinhead‘s mind is a bloke from Queanbeyan, still sitting in his car somewhere else in Europe and shedding a tear at the end of OHMSS.

His arch nemesis Blofeld is currently there in Davos, though. Schwab and the WEF are the masterminds behind what is known as the “Great Reset”. A conspiracy-theory-inspiring economic recovery plan in response to the Covid-19 pandemic, which aims to homogenise global financial markets.

And in slightly Bond-esque style, Green has delivered a stark warning to Schwab’s WEF, which began its four-day conference today, bringing together business, financial, economic, political, academic and evil mad-scientist leaders from all over the planet.

The deVere Group, incidentally, is one of the world’s largest independent financial advisories, asset managers and fintech organisations. And Green is a known Bitcoin and cryptocurrency advocate.

Here’s what he’s told media outlets today:

“The leaders assembled in Davos at the WEF must next week return home to their governments who then need to insist that their financial regulators must stop ‘talking the talk’ and begin to up the ante on regulating the cryptocurrency market.

“The time for endless platitudes on greater regulatory scrutiny is over. Action is required.

“Should those in attendance at the WEF not advance the agenda of crypto regulation as a result of the 2023 summit, they will have spectacularly failed.”

While the idea of not advancing crypto regulations could absolutely be seen as a failure broadly, whether this correlates with the WEF’s plans to create its own brand of new-world order actually seems a little dubious.

Nevertheless, the call for regulation has been growing louder by the day since the FTX implosion further wrecked an already pretty rekt crypto market in November.

And many of those who clearly care about the future of their place in the industry – including several Aussie crypto exchanges for example – tend to believe that without a well-considered, non-stifling regulatory framework, crypto will struggle to progress in any meaningfully adoptive way.

 

Crypto is ‘widely regarded as the future of finance’

Green also cited his three reasons for the importance of crypto regulations.

Firstly, he noted that the institutional adoption of crypto can only occur with any significance if there is greater trust in the space, and if it is less volatile. He also said crypto should be, “brought into the regulatory tent and held to the same standards as the rest of the system”.

He also cited the prevalence of fraud in the industry: “After a year of significant crypto firm collapses, accusations of top-level fraud, and prison sentences for insider trading, there’s no denying that greater scrutiny would help protect investors.”

And thirdly, Green believes regulation would provide a “potential long-term, sustainable economic boost to those countries which introduce it – as crypto is widely regarded as the future of finance.”

 

‘The bulls are ready to run!’

What is needed now, Green continued, is a workable internationally agreed and recognised regulatory framework that “is sensible and doesn’t hamper innovation or compromise the inherent nature of the digital assets and market.”

As for the current state of the market and its mid-January relief rally, the deVere boss added that he thinks the “crypto winter” is thawing amid signs of cooling inflation.

“Of course, the crypto market will not go in a straight line – no market ever does – but we expect the bears to go into hibernation and bulls are ready to run!

“Cryptocurrencies are here to stay and the market is only set to grow exponentially,” Green concluded.

 

 

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