Bakkt Chief Product Officer, Dan O’Prey, has stated that the international regulatory environment for cryptocurrency is improving and the company is seeking to expand its retail operations globally. In an interview with Cointelegraph’s US News Editor, Sam Bourgi, O’Prey prioritised Bakkt’s role as a “B2B2C” company for the past two years and noted that the majority of institutional interest has focused on Bitcoin (BTC). O’Prey remarked that Bitcoin has been impacted by the collapse of cryptocurrency exchange FTX, even though it had nothing to do with Bitcoin; he added that a lack of regulatory clarity in the US has been a top obstacle for the adoption of cryptocurrencies. Currently, Bakkt’s retail platform for embedded trading, payouts, and rewards operates only in the US, but the blockchain company is looking to expand internationally. It is working to identify potential jurisdictions to open up its retail operations beyond the US with partners who already have experience trading in equities, adding crypto or already have a presence in these regions. O’Prey praised the Markets in Crypto-Assets regulations in the European Union, stating “Any form of clarity is by and large good” and adding that regions that provide regulatory clarity will receive significant inflows of talent, capital, and jobs.
By J-S Tremblay / May 20, 2023 at 1:32 AM / Policy & Regulations / 1 minute of reading