Caitlin Long: “Cryptocurrency industry will be divided into three“ camps ”” - Bits Media

An experienced banker and founder of the startup Custodia Bank Kaitlin Long counts, that the new rules for regulating the digital assets market will lead to the division of the industry into three "camps".

Banking veteran with 20 years of experience Caitlin Long (Caitlin Long) She said in recent output of the podcast decrypt, that the new rules for regulating the digital assets market will lead to the split of the industry. According to her, There are enough people in the industry now, who do not want to regulate crypto industry at all, and recent statements by the Chairman of the Commission on Securities and Exchange of the United States (SEC) Gary Gensler (Gary Gensler) They only alerted them. Businesswoman identifies three main directions, which the industry will be divided into:

They, who opposes regulation and are interested in voluntary associations and means of resolving disputes without intermediaries. These people, According to Long, committed to the ideas of decentralized finance (DeFi) and intend to actively develop this sphere. They will not go anywhere and you will have to reckon with them, Notes the banker.

They, who advocates regulation, since this will open their way to the main, Larger markets.

They, who for several years tried to find a compromise between regulatory authorities and cryptocurrency companies. This small group also includes Custodia Bank under the leadership of Long.

As for the first "camp", According to Long, regulation will inevitably affect its, However, they have a chance to get the best as possible for themselves. In the second camp there are traders with Wall Street and the titans of hedge funds, who looked at the cryptocurrency industry differently after the Pandemia of Coronavirus and now highlight the place in their investment portfolio for bitcoin and ether. Many of them welcome the intensification of regulation, Since cryptocurrency investment would become safer and attracted new retail investors.

The third camp, To which Long refers to himself and his company, He sought various successes. In some cases, they managed to balance. As an example, she cited Coinbase cryptocurrency exchange, which mainly complies with federal requirements. However, the company's management recently opposed the amendments to Crypto Travel Rule, which, According to the exchange, They can "strangle" the crypto industry.

Earlier, Long criticized the article New York Times, in which journalists said, that cryptocurrencies and Defi undermine the work of the banking industry, And regulators cannot cope with financial shocks.