- This was Oliver Lynch’s message during Bitcoin 2023
- In his opinion, it is wrong to try to “squeeze” cryptocurrency into an existing financial market sector
- It is a separate segment just like securities and derivatives
- And he believes that industry conferences will not be necessary
The digital asset market should not try to “squeeze” into existing financial products, Oliver Lynch says.
According to him, in 5-10 years it will be another section of the traditional market, but with its own specifics.
The CEO of Bittrex said this at a conference in Miami Bitcoin 2023.
Lynch noted that lawmakers in many countries are trying to view cryptocurrency “through the lens” of traditional financial products.
This is fundamentally wrong.
They should be seen as an entirely new part of this market, unique but consistent with the basic standards of the sector.
“You have derivatives, securities and cryptocurrency. It’s just another thing, right? There’s no need to try to ‘push’ it into the existing framework.”
In Lynch’s opinion, in a few years, events like Bitcoin 2023 will simply disappear.
Cryptocurrency will seamlessly merge into TradFi and become as much a part of that ecosystem as fiat, stocks or bonds.
It is interesting that Bittrex has declared bankruptcy, among other things, due to regulatory pressure.
At the same time, the Securities and Exchange Commission (SEC) is preparing a lawsuit against the company.