Citadel Securities doubts that entering a cryptocurrency market is an appropriate decision given the risks associated with the regulatory framework.
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Ken Griffin, Founder of the Chicago-based financial giant, told the Economic Club of Chicago he just does not want to "take on the regulatory risk in this regulatory void that some of my contemporaries are willing to take on," Reuters reports. Griffin forecasts that the cryptocurrency market will become a "far more competitive" one with regulatory clarity.
One way or the other, Griffin said the company would trade cryptocurrencies if they were regulated, despite his own opinion of them personally. Griffin's critique comes shortly after it became known that the US Treasury Department is preparing new recommendations for more regulatory pressure on stablecoins.
According to reports, the regulator wants to be sure that investors could confidently move money in and out of tokens. Treasury is said to release a new policy framework on how to regulate the stablecoin market in the coming weeks.
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