"We've approached countless large investors over the last few months and they've told us two things - they want in, but first there's a few steps the cryptocurrency world needs to take. Without going into all the specifics - we're taking those steps" says my source from a major San Francisco based cryptocurrency company - who wishes to remain unnamed for now.
Among topics discussed were how these large firms working together could work to "validate [cryptocurrency's] potential role in global markets" and the "implications of future regulation for cryptocurrencies" as well as "what the necessary tools are and what surveillance will be needed" a source told Bloomberg.
Expanding on the topic of 'surveillance' this week was the denial of an application to launch the first Bitcoin ETF, placed by the Winkelvoss Twins who first reached fame for suing Mark Zuckerberg claiming they created Facebook. Zuckerberg settled out of court, they then launched the Gemini exchange.
Gemini recently hired NASDAQ for this exact reason, to use the tools they developed to provide surveillance over the stock market and spot manipulation, and apply it to the cryptocurrency markets.
While they were denied this week, as surveillance capability expands SEC commissioner Hester Peirce has made her position clear - the end goal for her is to approve a Bitcoin ETF. These comments triggered the green we're seeing on the charts today.
"This will not be the last meeting of this nature" says Bloomberg's inside source.
-------
E-Mail: Ross@GlobalCryptoPress.com Twitter:@RossFM
San Francisco News Desk
