Cryptocurrencies are regularly seen as an asset class completely separate from the rest of the financial world, and even as a kind of contrarian group of assets. But not everyone agrees. Now that crypto is becoming increasingly important and useful, this realization is slowly taking hold. Bitrex Global CEO Oliver Linch also has an opinion that may be a bit less popular.
Regulation mistreats crypto
Linch spoke with Cointelegraph at the Bitcoin Miami conference. He gets the impression that policymakers in different countries tend to view crypto and blockchain through the lens of traditional finance, while at the same time trying to understand the differentiators. This view would also apply in the United States.
But the CEO calls this view for crypto very ineffective. The industry is something completely new, and it should be treated that way. “You have securities, you have derivatives and you have crypto. It’s just an extra part, right?” he declares.
According to him, the countries that have the most constructive policies have an approach that takes extra account of what crypto and blockchain exactly mean. In the most ideal scenario, crypto would be fully integrated into traditional finance. In fact, you wouldn’t recognize it anymore.
Bittrex on the ropes with the SEC
It’s no secret that Bittrex has a hard time with policymakers in the US. In fact, this is why it announced last month that it would completely stop offering services in the United States. Regulators allegedly made it too difficult for Bittrex to remain operational.
A week later, the SEC sued the crypto exchange for circumventing identification requirements. At least we know that Bittrex is not alone in this. In the US, the Securities and Exchange Commission in particular has become notorious for its tough and, above all, unclear way of regulating. Coinbase has even sued the SEC over this.