Barry Silbert, CEO of cryptocurrency funding agency Grayscale Investments and Digital Forex Group, believes the USA is previous the purpose of no return for banning Bitcoin.
In a Grayscale investor call on July 16, the CEO mentioned he was “cautiously optimistic” concerning the probabilities of laws within the U.S. enhancing or at the least not getting worse for the cryptocurrency.
“For the primary time ever, we’re previous the ‘ban bitcoin’ perceived threat,” Silbert mentioned. “There’s sufficient help in DC from coverage makers and regulators that Bitcoin has a proper to exist and in the end you may’t shut it down.”
The CEO mentioned relationships with regulators are significantly better off as a result of effort made by teams together with the Blockchain Association — a bunch talking out in favor of many blockchain and crypto corporations in entrance of the SEC — and Coin Center, a non-profit crypto advocacy group.
“As an business, we’re simply significantly better off than we have ever been from a relationship perspective out in DC. [These two groups are] educating coverage makers round the advantages of this know-how on this asset class. The catastrophic regulatory coverage threat that perhaps would have existed beforehand in DC is behind us.”
Institutional demand for Bitcoin
Cointelegraph has reported that Grayscale reported a substantial increase within the influx of cryptocurrencies for Q2 2020, which totaled $905.eight million. This was up from $503.7 million in Q1.
— to cointelegraph.com