Expert: Bakkt impact on the stock market is way overrated

For several weeks cryptomnesia expect the launch platform Bakkt that sort should be the main trigger for the rapid growth of Bitcoins and other cryptocurrencies. The event was commented by the advocate and litigation in securities, Kobre & Kim LLP Jake Chervinsky. He said that although the launch Bakkt there are positive aspects, the impact on emerging asset class cannot be assessed rashly.

According to Chervinsky, it’s only November, so it is not necessary to make any premature evaluations. How to write for CCN, the implementation will be in two stages. The first step is to launch the platform Bakkt and introducing Bitcoin futures. And only the second stage of implementation will give the public instant payment system, with which we will be able to pay, for example, over coffee at Starbucks. You need to wait start to see the effect and then make some predictions and conclusions.

The platform Bakkt the same tasks that ETF on Bitcoin – open in cryptosphere portal for the flow of institutional money. However, this project will not have to deal with all these problems SEC.

Than Bakkt important for crypts?

According to the former head of ICE Digital Assets and CEO Bakkt Kelly Leffler, Bakkt platform for organizations, traders and consumers, which allows you to trade, store and use cryptocurrencies. Bakkt also is a subsidiary of the new York stock exchange NYSE.

As the operator of the largest stock market in the world ICE has many years of experience and reputation in the traditional financial sector. In addition, the company has all necessary permissions of the Commission on trade commodity futures (CFTC) to work in the market sector with the possibility of self-certification of the futures contracts on products.

Roughly speaking, Bakkt will have the opportunity to manage a futures market for Bitcoins without the need to obtain the approval of the CFTC. The launch of the platform Bakkt scheduled for 12 December. More data look at cryptodata.

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