Bitstamp Observes 'Massive Crypto Interest' From Institutional Clients
Crypto Regulation And Institutional Interest
Jean-Baptiste Graftieaux discussed his thoughts on cryptocurrency regulation in a conversation with a press release on Monday.
In response to a question about "crypto winter," he said that Bitstamp has a very active licensing journey throughout all the locations, with 10 in process internationally. His cryptocurrency exchange will expand its regulatory footprint over the upcoming quarters. We observe a strong tendency on the institutional side. He further elaborated,
"Many institutional companies are looking to make their first move into crypto – there is massive crypto interest from our institutional clients."
MiCA By The European Commission
The European Commission launched the Markets in Crypto-Assets (MiCA) proposal in September 2020 to control the cryptocurrency market as part of its digital finance agenda. The European Central Bank (ECB) anticipates that MiCA will contribute to the establishment of a uniform legal framework for digital assets.
The Bitstamp CEO highlighted,
"Each jurisdiction has its own criteria. So with MiCA coming in 18 to 24 months, that will be a game-changer because there will be a level playing field."
Graftieaux stated that there would be one nation where you may establish your operations as MiCA-compliant and then passport the services across the various European nations.
The Bitstamp CEO concluded that, according to them, they observe a healthy trend from a regulatory viewpoint and are working with regulators on an ongoing basis. He said,
"Most regions and countries are looking into regulating crypto. The key risk here is around ensuring regulations are smart and they foster a level playing field."