José Miguel Carracho (Associate) is interviewed by Vida Judiciária magazine in an article on Virtual Assets and the contribution of Law.
Asked about what consequences he expects the crypto sector to face following the recent FTX failure, the lawyer says: "The most obvious consequences will necessarily arise related to the regulation of this sector. Phenomena of over-regulation based on specific situations, which will do nothing more than introduce access barriers to new market players and promote phenomena of concentration and quasi-monopoly by some operators, should be avoided. This has been, in fact, the trend in recent years in this sector, which is now aggravated by the collapse of FTX, with Binance acquiring a status of being practically "too big to fail on a global scale. Another beneficial consequence that will come out of this phenomenon, I hope, will be a greater understanding or "crypto literacy" on the part of users, who will be more aware when it comes to the evaluation of projects and crypto-assets where they invest, as well as the risks inherent to the custody of the same with the exchanges, for example, in a tendency to prefer custody in own wallets, thus promoting the decentralisation that is, after all, one of the great assets of this industry, but that has been replaced by the force of some euphoria of ill-informed investors, accompanied by market capture strategies by the exchanges. "
Read the interview here.