It has long been argued that bitcoin’s wobbly price would stabilize if the market evolves from one dominated by wild day traders to also include mainstream investors, banks and hedge funds.
The question is if such a theory holds for an asset of unknown fundamental value and whose Bitcoin network faces many future unknowns.
The advent of regulated bitcoin exchanges last year may shed some light. Two New York-based bitcoin exchanges- itBit and Gemini– became regulated as financial institutions by the New York Department of Financial Services (NYDFS), which granted them trust charters. As such, they have permission to operate in all 50 states as fully regulated financial services entities. They are therefore absolved of the NYDFS BitLicense regulations enacted last year.
http://www.financemagnates.com/cryptocurrency/interview/gemini-institutionalization-of-bitcoin-trading-is-definitely-happening/
Topic: [2016-01-06] Gemini:‘Institutionalization’of BTC Trading is Definitely Happening (Read 204 times)
January 05, 2016, 10:45:07 AM
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