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The CEO of leading cryptocurrency exchange Bitstamp says his trading platform has received massive crypto interest from institutional investors. Many institutional investors are taking their first steps into cryptocurrencies, he explained.
Bitstamp global CEO Jean-Baptiste Graftieaux shared his views on cryptocurrency regulation in an interview with Business2community published Monday.
Discussing crypto winter, he explained that Bitstamp has very active licensing activity in all regions, with 10 ongoing worldwide.
The executive added that it will expand its regulatory footprint over the next few quarters to “put itself in a strong position to fully participate in the next bull market.” he said:
Many institutional investors are about to take their first steps into cryptocurrencies and there is great interest in cryptocurrencies from our institutional investors.
The CEO proceeded to discuss crypto regulation in Europe. “What we are experiencing today is not very wise in Europe,” he opined.
As an example, he explained that crypto service providers wishing to do business in Europe must register individually in each country as Virtual Asset Service Providers (VASPs). Emphasizing that each country has its own requirements, the Bitstamp boss said:
So when MiCA comes out in 18-24 months, it will be a game changer as it will level the playing field.
The Markets in Crypto-Assets (MiCA) proposal was introduced by the European Commission in September 2020 to regulate crypto markets as part of its digital financial strategy. European Central Bank (ECB) hope MiCA will help provide a harmonized legal framework for crypto-assets.
There will be one country that can establish its activities as MiCA compliant and spread its activities to different countries in Europe, explains Graftieaux.
Bitstamp’s CEO concludes, “I think we are seeing positive trends from a regulatory perspective. We are continuously working with regulators.”
Most regions and countries are considering regulating cryptocurrencies. The main risk here is that regulation is prudent and promotes a level playing field.
What do you think of Bitstamp’s CEO’s comments? Let us know in the comments section below.
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