ShapeShift’s Voorhees: Bitcoin Won’t Become Trillion-Dollar Asset Without More Bubbles

ShapeShift’s Voorhees: Bitcoin Won’t Become Trillion-Dollar Asset Without More Bubbles

The instant convertor’s CEO told Bloomberg that current volatility is an essential part of crypto’s metamorphosis. The CEO of instant cryptocurrency exchange platform ShapeShift told Bloomberg TV on May 15 that bubbles are an essential part of the industry’s growth.Speaking in an interview, Erik Voorhees argued that the volatility seen in bitcoin (BTC) and altcoin markets over the years is a necessary phenomenon for a nascent asset.“There have to be bubbles in crypto because…

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Blockchain and the City: New York State as a “Tough” Model of Crypto Regulation

Blockchain and the City: New York State as a “Tough” Model of Crypto Regulation

The financial capital of the world can afford to be picky — but does it stifle fintech innovation? Recently the New York Department of Financial Services (NYDFS) granted statewide virtual currency licenses to two applicants: stock trading service Robinhood and cryptocurrency ATM operator LibertyX. The state’s regulatory regime, commonly known as BitLicense, imposes a set of strict disclosure and consumer-protection requirements on any business that offers cryptocurrency-related services to New York residents. Since the framework…

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