Bitstamp Sees ‘Massive Crypto Interest’ From Institutional Clients – Bitcoin News Regulation

Bitstamp Sees ‘Massive Crypto Interest’ From Institutional Clients – Bitcoin News Regulation

The CEO of a major cryptocurrency exchange, Bitstamp, says its trading platform is seeing “tremendous interest in cryptocurrencies” from institutional clients. “A lot of institutional companies want to make their first step into crypto,” he explained.

Bitstamp’s Executive Director of Crypto Regulation, Institutional Interest

Global CEO of Bitstamp, Jean-Baptiste Graftieaux, shared his thoughts on cryptocurrency regulation in an interview with Business2community, published on Monday.

Speaking about the crypto winter, he explained that Bitstamp has a “very active licensing journey in all regions – 10 underway globally”.

The CEO added that his crypto exchange will increase its regulatory footprint over the next few quarters to be “in a strong position to fully participate in the next exchange.” He shared, “We’re seeing a strong trend on the institutional side,” elaborating:

Many institutional companies are looking to make their first step into crypto – there is huge interest from our institutional clients in crypto.

The CEO went on to discuss crypto regulation in Europe. “What we are experiencing today is not very smart in Europe,” he believes.

As an example, he explained that a crypto service provider wishing to operate in Europe must register with each country separately as a virtual asset service provider (VASP). Noting that “Every country has its own requirements,” the Bitstamp boss noted:

So MiCA will come in 18 to 24 months, it will be a game changer because there will be a level playing field.

The Market for Crypto Assets (MiCA) proposal was introduced by the European Commission in September 2020 to regulate the crypto market as part of its digital finance strategy. European Central Bank (ECB) hope that MiCA will help provide a harmonized legal framework for crypto assets.

“There will be one country where you can establish your activities as MiCA compliant and then passport the activities to different European countries,” Graftieaux described.

Bitstamp’s CEO elaborated: “I think we’re seeing a good trend from a regulatory standpoint and we’re continuously working with regulators,” concluding:

Most regions and countries are considering cryptocurrency regulation. The key risk is to ensure that regulations are smart and encourage a level playing field.

What do you think about the Bitstamp CEO’s comments? Let us know in the comments section below.

Bitstamp Sees ‘Massive Crypto Interest’ From Institutional Clients – Bitcoin News Regulation

Kevin Helms

An Austrian economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in bitcoin security, open-source systems, network effects, and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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