Bitstamp CEO Julian Sawyer spoke in an interview with Business Insider about crypto investors' response to extreme volatility and strict regulatory measures.
Sawyer's views on regulatory measures
As a reminder, Bitstamp is one of the oldest regulated crypto exchanges in the world. According to CoinMarketCap, it is currently the 11th largest crypto exchange.
Its CEO, Julian Sawyer, said he generally shares consumer demand and investor aspirations regarding recent developments in the crypto industry.
Thus, it is a question of regulatory measures by the governments of different countries with regard to cryptocurrencies and the issuance of digital coins by the central banks of various countries.
The issue of security and quality
Julian Sawyer welcomed the decision and explained that Bitstamp is not operating "on a level playing field" in terms of risk, compliance and controls.
For us, I think this is good, this is good for consumers, it's good for institutions to be able to understand that the players that are live are all regulated with the same level of controls.
He stated that this is a positive factor for consumers and institutions in terms of convincing them that all incumbent players are regulated by the same level of controls. In his view, the opposite scenario does not offer the same protection and trust.
...As opposed to always looking over our shoulders as people who are unregulated, who are not giving that protection, not giving that trust.
Opinion on Binance
The Bitstamp CEO also touched on the topic of the Binance blockchain. Sawyer noted that after Binance was blocked in the United Kingdom, a lot of new customers headed to the Bitstamp exchange.
Their number increased twofold. In addition, according to Sawyer, the flow of Bitcoin also increased. Sawyer attributed this to the excellent payment systems of the Bitstamp crypto exchange, as well as a strong level of cooperation with other exchanges.
Sawyer also added that, after Binance was blocked in the U.K., many investors became aware of the regulatory side of what was happening and thought about the security and quality issues. He compared Bitstamp's quality features to Binance.
According to Sawyer, one of the reasons for this user sympathy is Bitstamp's emphasis on the issue of regulation. Bitstamp's CEO noted that he had been putting this aspect at the forefront since day one.
Bitstamp's CEO also pointed out that there is a long-term demand for their services in the market today. And this pleases him, as the number of institutions seeking to use crypto-exchange services is growing.