Winklevoss Twins Suggests Collaboration Of Bitcoin Community With Wall Street

May 23, 2020   (0)   Jyoti Singh

Since a very long time, the mass adoption of cryptocurrency has been an important topic to be discussed. There are hundreds of factors that influence the adoption of cryptocurrencies, but, among them, the crypto regulation is the most prominent one.

Crypto Space Needs Thoughtful Regulation

Recently, the Federal Reserve Bank of Dallas recently published a report on regulation suggesting that regulatory measures are not always bad for crypto markets, but many others did not agree with that report.

According to them, recently, most of the new adopters of crypto have left the platform and it happened because of the crypto regulation. Other banks also believed that crypto regulation is also the reason for killing cryptocurrency’s ecosystem.

Recently, Tyler and Cameron Winklevoss who are the co-founder of Gemini shared their views on the crypto regulation in the latest podcast episode. They mentioned that crypto-space lacks ‘thoughtful regulation’.

Winklevoss further stated, “If crypto is going to go mainstream, we have to have some kind of regulation. Thoughtful regulation is a must. A market cannot thrive without some sort of rules-based system that tries to foster positive outcomes. At the same time, over-regulating the space is also harmful. It does have to be an either all or nothing kinda situation”.

But after their suggestion, the question arises is, whether crypto exchanges also promote the adoption of digital assets and if a new user wants to adopt any cryptocurrency from a particular exchange, whether that exchange is user-friendly or not.

FOMO-Driven Interest Of Wall Street In Crypto

Recently, Wall Street has started showing some interest in Bitcoin. However, some analysts assumed that this is a FOMO-driven interest.

Notably, this increasing interest of Wall Street has brought in some remarkable changes in the crypto space.

While commenting on Wall Street news, the Winklevoss twins stated that if the Bitcoin merges with Wall Street then things would get better only.

The Winklevoss twins further explained that currently, like them, the Wall Street is also concerned about the printing of the US Dollar, because no one knows what is happening with it and how its issue would get resolved.

Additionally, they said that at this time if the Wall Street partners with the Bitcoin community and brings in more people then it would make things better.

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Jyoti Singh
Jyoti Singh

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.