The other day I made a post discussing how Bitfinex is cracking down on users and requesting FATCA documents to know who's trading on their exchange.
While this isn't great news short term, looking at the bigger picture this is the next step needed to attract institutional investors.
Wall Street traders, hedge funds, and billionaire investors don't want anything to do with exchanges that are flying under the radar. These guys want a safe & trustworthy place to trade.
Big money doesn't want to worry about an exchange hack, they want insurance.
Big money wants regulation & they probably won't be throwing millions or billions of dollars at the markets without it.
Another top concern for big money is how do they safely store their crypto?
If you have 50 million in BTC, how do you store that with peace of mind? 😳
Would you trust your Ledger Nano S storing millions in BTC? I'd have to get 50 different ones to store 1m each.
We need something better. 👍🏽
Unless you store them in a centralized environment that offers insurance...but that's essentially a bank & that's what Coinbase is looking to become.
What do you guys think of regulation as a catalyst? 🤔
Do you think we need better hardware for big investors other than rinky dink Ledger/Trezors?