Terry Duffy, CEO of leading market , has said that until start to accept , it is very difficult for major commercial to get involved in the market. Duffy made his comments during an interview with Bloomberg on Feb. 14.
When asked if ₿itcoin’s () price has hit its bottom, Duffy said that he is not sure. The interviewer also brought attention to the JPM Coin, the cryptocurrency soon to be launched by giant JPMorgan to increase settlement efficiency, as recently by Cointelegraph.
Duffy outlined a change in attitude towards crypto when answering inquiries about institutional demand for ₿itcoin.
Specifically, he stated that while at first the bank was very pessimistic towards ₿itcoin, “now they’re coming up with a couple offerings” and has done the same. He concluded:
“The key to the success of any currency, whether it’s fiat or crypto, is going to be associated with the government. So I think the government needs to be more involved.”
In its most recent demonstration of involvement in the crypto space, the Securities and Exchange Commission () yesterday that it had gained an injunction against initial coin offering () operator Blockvest. The SEC has also recently guidelines on ICOs as efforts to formalize the sector continue.
In response to JPMorgan’s news, Ripple () CEO had earlier this week that the newly-announced digital asset fromJPMorgan Chase “misses the point” of cryptocurrency.
A report released today by digital asset management fund Grayscale Investments that capital inflow from institutional investors is on the rise. In Q4 2018, the document reports that institutions accounted for the majority of investments at 66 percent.
Published at Fri, 15 Feb 2019 15:11:00 +0000
