The move of two major cryptographic companies this week may prove that regulatory problems are being addressed. This is most likely due to an analyst closely following the market Bitcoin A good sign for the prices.
According to CNBC, Fundstrat’s founding partner, Tom Lee, noted in a note sent to customers yesterday, “We believe that the regulatory photo is now in good shape. Companies like Coinbase and Circle running towards regulation are the best proof of this. ”
The leading US crypto money trading platforms, Coinbase announced on Wednesday that it has bought Keystone Capital to become a broker-dealer fully regulated by the SEC. Goldman Sachs-sponsored crypto money platform Circle is also trying to get a banking license.
“We believe that if the regulatory risk perception in the crypt is improved, both companies will be able to make these moves,” Lee said, adding that these developments were “top-down approval” of the changing regulatory tide.
Lee and other experts in the area have so far suggested that the demand for regulatory uncertainty has been withdrawn and that these uncertainties have prevented institutional investors from entering the market. It is expected that such developments will lift regulatory uncertainties and that the demand for all crypto paralas, especially Bitcoin, will increase to a great extent.