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Mr. Klee, the US supervisory authority SEC is taking increasingly tougher action against crypto trading platforms. What’s going on?
The SEC is aggressive. Anything that is not Bitcoin or Ethereum is in danger of being classified as a security. If that were the case, it would have a huge impact on trading platforms like Binance or Coinbase. Few platforms have securities trading licenses. The entire industry would have to reposition itself.
Sorry, what? Haven’t prominent representatives of the crypto industry always wished for industry regulation?
Yes, but in a different way, the SEC puts step two before step one. It must first establish meaningful legal guidelines and then measure companies on their compliance.
The crypto industry is often declared dead. Is it serious this time?
NO. Negative and positive news change every day. For example, despite the SEC lawsuit, Blackrock filed for the first spot Bitcoin ETF in partnership with Coinbase. Blackrock does not appear to have been affected by the SEC. Regulation is coming in the US – we’ll see what exactly it looks like. We need to overcome this uncertainty.
Its loss caused uncertainty.
In 2022, cryptocurrencies corrected between 60 and 80 percent. It is clear that this has not left a crypto company unaffected. We were particularly impacted by the low level of trading activity. To reduce reliance on trading, we are focusing more on recurring income. We transform from a pure trading house to a crypto asset manager.
Why did you bring former German Economy Minister Philipp Rösler to the board of directors?
We are very Swiss and we want to expand abroad. Mr. Rösler can certainly make a great contribution with his international network. Emirates, the United Kingdom and Luxembourg are of particular interest.
What’s next for cryptocurrencies?
The Blackrock ETF will be a major milestone. When the doors open, large sums flow into the market. With the halving and slightly falling interest rates, there should be a strong tailwind in the second half of the year and especially in 2024.
Dirk Klee has been the CEO of Bitcoin Suisse AG since April 2022. Germans currently have a lot of work to do in applying for a banking license. Finma application will soon enter the final stage.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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