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The crypto market rally sent Bitcoin (BTC), Ethereum (ETH) and other tokens soaring to new all-time highs this year. However, former U.S. Treasurer Rosie Rios believes that it’s probably too late to enter the market at this point.
“The train has already left the station,” Rios told CNBC Make It. “Blockchain technology is here.”
Rios served as the U.S. Treasurer from 2009 to 2016 during the Obama Administration. After leaving her government post, she built her career around crypto and investing.
She is an investor on Amazon’s reality show “Unicorn Hunters” and the CEO of real estate investment consulting company Red River Associates. Rios is also a board member of the blockchain start-up Ripple.
With her rich experience in the sectors, Rios offers some advice for those who plan to invest in NFTs, cryptos, and blockchain-based platforms. Before taking the plunge, investors should focus on basic questions such as the practicality of the product and its room for growth.
The former U.S. Treasurer said that she’ll invest in platforms that offer real-world value or meaningful services and have growth potential. “Whether there is intrinsic value is very meaningful to me,” Rios explained.
This is the reason why she decided to join Ripple’s board. The XRP crypto can facilitate cross-border payments at a lower cost and faster processing times compared to traditional channels.
“It’s not just the future,” Rios explained. “It’s already being used all over the world.”
She is hopeful that regulatory uncertainties in the crypto market would finally be over in 2022. Last month, regulators said that they plan to clarify what activities involving crypto banks and other financial institutions can engage in.
“The agencies have identified a number of areas where additional public clarity is warranted,” the Federal Reserve, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency said in a joint statement, according to Reuters. “Throughout 2022, the agencies plan to provide greater clarity on whether certain activities related to crypto-assets conducted by banking organizations are legally permissible, and expectations for safety and soundness, consumer protection, and compliance with existing laws and regulations.”
