Square, Coinbase, and Fidelity; companies owned by some of fintech’s top guns, along with other leading crypto companies are joining forces to lead the industry into a better regulatory environment.
The three firms intend to achieve this by creating a Bitcoin Trade Group. Their main goal is quite simple; carry out projects and research centered around the industry, outline the rewards of digital currencies and promote them within the global market and seek to influence policymakers.
This comes at a time when the cryptocurrency industry is transitioning into a new stage, as prices of many digital assets surge and rake in tremendous returns for investors in the largest fintech organizations.
The relevance of this group cannot be overemphasized, when the state of the market and the relationship between the crypto-industry and lawmakers are reviewed.
Even as traditional investors who had previously discredited Bitcoin make their way into the industry, lawmakers are still approaching the subject of digital currencies with military precision.
Statistically, the benefits of digital currencies outweigh the downsides by a large mark, but this has not stopped regulators and watchdogs from enforcing strict policies and cracking down on some of the biggest crypto firms.
Surely with Fidelity, Square, and Coinbase taking the matter up, it is fair to suggest that the future is in good hands. Coinbase is already causing a commotion as it just reported 56 million users, $335 billion in trading volume, and $1.8 billion in revenue for Q1.
Coinbase did more in revenue in the last 90 days …
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