Citadel would offer crypto services if there is regulatory clarity, says the founder
Citadel would offer crypto services if there is regulatory clarity, says the founder
ken Griffin - founder and chief executive officer of the multinational hedge fund Citadel LLC - said that his organization would only offer cryptocurrency trading services if there was "regulatory clarity". However, he is not interested in the asset class and believes that it threatens the strength of the American dollar.
citadel can jump onto the crypto train
during a recently Interview , billionaire Ken Griffin referred to the need to impose a regulatory framework on the cryptocurrency industry. The founder of Citadel promised to offer his customers digital asset services due to the increasing demand, but only if the watchdogs implement clear regulations. Nevertheless, it remains skeptical of the area of digital assets.
"We do not act with crypto because of the regulatory uncertainty. It will be a much more competitive market if there would be regulatory clarity, and that would be good ... I would act because he would meet the needs of our brokerage partners who would like to have a first -class company."
The American entrepreneur praised the SEC and especially its chairman - Gary Gensler - for their attitude on this topic.
"I really believe that the chairman Gensler recognizes the need for a well thought -out regulation of cryptocurrencies."
Recently, the chairman of the Commission admitted his affection to the market, but claimed He would work to improve investor protection from potential fraud and fraudulent activities. He further pointed out that the crypto industry must be subordinate to the jurisdiction of the Sec.
While the commitment of Citadel LLC would wait with digital assets until a regulatory framework is imposed, this has not been the case with numerous banks and hedge funds that had already been on the move of cryptocurrency.
The two oldest American banks are such examples. Bank of New York (BNY) MELLON announced At the beginning of the year that it would offer crypto-related services. To be more precise, on behalf of its institutional customers, Bitcoin (BTC) and other cryptocurrencies would hold, issue and transfer it. State Street Corporation followed this example and activated trade in digital assets about its infrastructure.
in April Brevan Howard invested $ 84 million in cryptocurrencies, which corresponds to 1.5 % of its capital of $ 5.6 billion.
It is worth noting that a current survey revealed that 98% of the CFOs of hedge funds expect to invest in the market for digital assets over the next five years.
Why is Griffin against crypto?
According to the billionaire, people spend a lot of time and energy with cryptocurrencies. Instead, they could use these resources for something more useful for the USA:
"I wish all this passion and energy that flowed into crypto would be directed to make the United States stronger."
as a convinced proponent of the American dollar, grip was of the opinion that digital assets, in particular Bitcoin, would harm Fiat currency. He went on and said that it was a "jihadist reputation" that some do not believe in the dollar:
"What is that crazy concept? We as a country welcome so many young, talented people to find a replacement for our leading currency."
Selected image with the friendly approval of Fnlondon
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