Launch of Bakkt and increase in regulations to make the market “mature” – Sergey Zhdanov
Sergey Zhdanov, founder, and CEO of EXMO exchange (one of the largest cryptocurrency exchange) is in the favor of Bakkt launching. According to him, the launch of Bakkt will bring more regulations and thus more maturity in the market.
In an interview released on Medium, Sergey Zhdanov stated that the release of Bakkt will generate the interest of institutional investors, and as institutional investors come on board, regulations will follow.
“I am convinced that regulation will unambiguously stimulate the market.”
Zhdanov also states the launch of Bakkt will also bring greater liquidity in the market, and in the long run institutional investors are needed for the success of the industry.
He also criticized the current cryptocurrency exchanges for their lack of professionalism in carrying out their business.
“There is a common opinion among the crypto enthusiasts, that among all market participants exchanges have the most protected position. They charge users a commission for Trading, Depositing/Withdrawing funds, and projects pay listing fees in order to be added on the exchange. Exchanges can do whatever they want to, for example, go start the technical maintenance when they consider it necessary or introduce some new strict rules, change commissions or terms of the operations,” Zhdanov said.
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