Unregulated Exchanges Will Disappear, Says Bakkt President
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28 January
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Bakkt President Adam White during a closed event in Tel Aviv said that all unregulated cryptocurrency trading platforms will eventually disappear, CryptoPotato reports.

Bakkt will Launch its Consumer App this Year

White believes that unregulated cryptocurrency trading platforms still exist due to the fact that these platforms are not regulated by watchdogs and their market data is nothing but a fake.

"We’re watching trading happening offshore, on unregulated venues, with very little KYC, no AML – these days are not going to last forever," White added.

While White is confident about the bright future of regulated platforms like Bakkt, unregulated middle-class cryptocurrency exchanges still control over 70% of all trading volumes on the cryptocurrency market, according to the CryptoCompare's report.

One way or the other, there is still an audience to battle for. Previously bitcoin (EXANTE: Bitcoin) options trading volume on the Chicago Mercantile Exchange (CME Group) reached 275 bitcoins or $2.1M on the same day this new instrument was launched.

Earlier iHodl reported that bitcoin trading volumes paired with the Chinese yuan on a Finnish p2p trading platform LocalBitcoins fell down to the level of 2017.

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