The CEO of Crypto.com shared his thoughts on Bitcoin in light of the upcoming reduction in miner rewards, as well as the regulatory environment in which the first cryptocurrency is developing.

Kris Marszalek, in an interview with Bloomberg TV, said that he was pleased with legislative changes in Hong Kong – the local Securities and Futures Commission (SFC) recently approved the launch of spot ETFs for Bitcoin and Ether. The businessman compared Hong Kong to South Korea, as both jurisdictions have seen high interest from retail investors in cryptocurrencies. Crypto.com plans to launch its mobile application for residents of South Korea.

The number of bitcoins received by miners as block rewards will decrease on April 19-20 and will have a significant impact on the market, the entrepreneur believes. Halving will be a positive event for the market, and this will be especially noticeable in the first six months.

“There is such a thing: buy rumors and sell news. Therefore, as the halving approaches, there may be sales in the market,” suggested Kris Marsalek.

The CEO of Crypto.com expects institutional investors to remain interested in Bitcoin after the halving. After all, after the emergence of spot Bitcoin ETFs in the United States, the demand for these investment products turned out to be much higher than expected. The growing participation of large companies in the cryptocurrency market is bringing changes to traditional retail trading, the head of Crypto.com is sure. The businessman hopes that if many global regulators approve cryptocurrency ETFs, this will increase market liquidity.

In June 2023, the Crypto.com exchange received a license to operate in Singapore, as well as an operating permit from the Bank of Spain. In July 2023, the exchange license was approved by the Central Bank of the Netherlands.