Oliver Linch, CEO of Bittrex Global, predicts that there won’t be any crypto conferences in five to ten years since cryptocurrencies will be integrated into regular finance.
The CEO of cryptocurrency exchange Bittrex Global has stressed the necessity for the cryptocurrency business to establish itself as a unique and inventive component of traditional finance as opposed to trying to fit into current financial products. This viewpoint represents the CEO’s conviction that cryptocurrency should be viewed as a completely new asset class with distinct qualities and potential.
The US division of Bittrex Global has announced its intention to wind down operations there and repay customer funds by filing for Chapter 11 bankruptcy. The exchange’s international activities, however, are not anticipated to be impacted by the bankruptcy case and will continue to function normally.
The choice to cease operations in the US serves as a reminder of the difficulties and regulatory complications that crypto exchanges encounter in various jurisdictions. It also emphasizes how crucial it is to understand the legal and regulatory environment in order to maintain sustainable operations and adherence to local regulations.
Exchanges like Bittrex Global are altering their tactics to handle the shifting terrain as the cryptocurrency sector transforms, focusing on opportunities in countries where they can operate successfully while giving their customers’ safety and interests top priority.
nstead, crypto should be a “brand-new […] thing” in the traditional finance space while still aligning with the same fundamental principles as other traditional financial products, Linch said, adding:
“You’ve got securities, you’ve got derivatives, you’ve got crypto. It’s just another component, right?”
On the other hand, Linch emphasized that the “most robust regulatory regimes” being set up are countries that actually engage with “crypto-on-crypto zone terms.”