Crypto to Become Part of TradFi Within 5-10 Years: Bittrex CEO
• Bittrex Global CEO Oliver Linch believes that crypto will become a regular part of traditional finance in the next 5-10 years.
• Cryptocurrency should be seen as a “brand new” component of traditional finance, rather than trying to fit into existing products.
• Regulators should look at crypto through the lens of its own principles, rather than traditional finance.
Crypto Becoming Part of Traditional Finance
Bittrex Global CEO Oliver Linch believes that within five to 10 years, crypto will become a regular part of traditional finance (TradFi). He argues that crypto needs to establish itself as a “brand new” component of tradfi, rather than try to squeeze itself into existing financial products.
Understanding Crypto Through Its Own Principles
Rather than try and analyze cryptocurrency through the “prism of traditional finance”, Linch suggests it is more effective to view it through its own principles. This way, it can be seen as an entirely separate asset class from other tradfi components such as securities and derivatives.
Regulatory Approach To Crypto
Linch further noted that the most robust regulatory regimes are those which engage with „crypto-on-crypto zone terms“. This suggests that regulators should look at cryptocurrency on its own terms instead of viewing it in relation to tradfi.
Closing U.S Operations
The United States arm of Bittrex recently announced it would be closing down operations due to the challenging regulatory and economic environment in the country. This highlights just how important it is for regulators around the world to have clear guidelines for cryptocurrency in order for this asset class to be accepted into mainstream finance.
Overall, if these points are taken into account by regulators around the world, there could potentially come a time when events like Bitcoin Miami won’t exist anymore — because crypto will have been fully integrated into tradfi without any issues or complications.