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To regulate bitcoin and cryptocurrencies “we need to strike a good balance”: Bitget

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Key facts:
  • For Chen, it is “most important” to build trust in regulators.

  • According to the author, ideal regulation protects users and allows the industry to thrive.

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“What would be the ideal regulation for the cryptocurrency industry?” asked CryptoNews’ Gracy Chen. The Bitget exchange’s CEO spoke of the importance of “finding a good balance” that protects users but also encourages innovation.

The interview took place on the last day of the conference. Blockchain Earth 2022 In the Mexican city of Monterrey, Nuevo Leon. The full dialogue is available, with Spanish subtitles, on the channel of YouTube Of this information portal.

“We want to talk a lot with regulators and policy makers,” Chen says.He explains that Bitget has a team that specializes in this issue. “As one of the leading cryptocurrency exchanges, we also want to join this discussion about proper regulation,” he adds.

The young entrepreneur says, During his stay in Mexico, he had the opportunity to meet politicians from the region. and “have great conversations.” In social networks, he could be seen photo by Chen together with Salvadoran official Monica Taher and Mexican Sen. Indira Kempiswho were also present at Blockchain Land 2022.

In this way, Chen shows that she agrees with the idea of not seeing the state as an enemy to be fought, but as a necessary ally for the flourishing industry formed around bitcoin (BTC) and digital assets. For her, according to a recent publication on Twitter, “It is most important to build trust with regulators.”.

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How to build this trust when many governments are constantly warning people about the dangers (alleged or real) of bitcoin and cryptocurrencies? This is Chen’s answer:

I think, at first, we should start talking to each other and sharing our perspectives. We definitely have different perspectives because, on the one hand, we have exchanges, while they are government entities. We need to put ourselves in each other’s shoes to think calmly. But most importantly, I think open communication and conversation is a good basis for trust.

Gracy Chen, CEO of Bitget.

However, she clarifies, “I don’t want to say that this is the only thing we need to build this trust, because trust is a difficult thing to build. But this is a good starting point, to talk“.

Gracy Chen of Bitget in Blockchain Country.
Gracy Chen (pictured) at Bitget’s booth during the Blockchain Land 2022 exhibition held in Monterrey, Nuevo Leon, Mexico. Source: Nicolás Antiporovich – CryptoNews

What is Bitget’s news and plans?

Our dialogue with Gracy Chen also led us to talk about the news of the company she heads. She states that “Bitget is attracting a large number of users from the spot market. [al contado]”. One of the strategies used by the exchange to attract traders and investors is the variety of its offerings: they allow the exchange of more than 500 cryptocurrencies and tokens..

We want to attract more spot market users,” Chen says, and then tells of a new development: “Bitget offers zero commission costs for all spot trading pairs, regardless of the token you are buying.”

Other news about the exchange and Chen’s views were expressed during the interview, which can be seen in the section CryptoNews YouTube Channel or in the video at the top of this post.

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This interview was made possible thanks to the cooperation of Mariana Bastidas (CriptoNoticias) and Elián Huesca (Bitget), who collaborated on the translation.

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