Tyler Winklevoss is confident that cryptocurrencies are adapting in the modern world
Posted On March 23, 2021
Cameron and Tyler Winklevoss: Cryptocurrency and the Future of Money
Cryptocurrency adaptation – It’s a question of time. So says Tyler Winklevoss, clarifying that the crypto world needs to be equal to Japan.
Tyler Winklevoss, CEO of the famous Gemini exchange, spoke about the possibility of adapting cryptocurrencies in a world ruled by fiat. In his speech, he noted that this is a long journey through Wall Street and other major financial areas, which will sooner or later be covered..
His comments echo the idea of institutional investment, and it seems that in this case, Winklevoss believes that the crypto community will have to wait before institutional investment in cryptocurrency can be seen. In his opinion, it will take time for large financial groups to actually start the process of integration with cryptocurrencies..
Winklevoss added the following statement to his speech: «Wall Street is extremely serious about cryptocurrencies. However, most Wall Street players are not eager to participate in the digital asset market, which makes it geared towards retail. Any changes take time, but you should understand that you need to be patient.».
In fact, institutional investors have been on the sidelines for a long time due to the created flair of uncertainty that has enveloped cryptocurrencies. Investors on Wall Street are waiting for a clarification of the position of regulators on tokens and other financial instruments in the market (such as the offer for Bitcoin ETF).
Volatility and uncertainty are caused by a lack of regulation. This provision is the industry’s worst enemy. However, how long will the crypto community have to wait for certainty — nobody knows. At the moment, the fate of the cryptocurrency market is in the hands of regulators..
Large institutions are reluctant to work with digital assets, at least until they can be sure of their safety and legality. Winklevoss also noted that most countries should take Japan as a model for how to deal with new digital tools. In particular, he noted that it is necessary to gain experience in regulating exchanges and creating a legal framework from Asian colleagues..
Earlier, we wrote that the SEC rejected the second application of the Winklevoss brothers to launch a crypto ETF.
text: Evgeniya Likhodey, photo: official page Tyler Winklevoss on Facebook.com