Bakkt is interested in the European market after the adoption of MiCA

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American adjustablecryptocurrency platform for institutional investors Bakkt became interested in entering the European market after the adoption of the MiCA cryptocurrency regulation law.

Bakkt Chief Product Officer Dan O'Pray said that Bakkt is positive about the development of the regulatory environment for cryptocurrencies in the long term. 

The company has been working towardsinstitutional investors even refused to support the retail application. Bakkt sees interest from institutions, and the improving regulatory environment, especially after the adoption of MiCA, makes the company's prospects in the European market quite rosy.

O'Prey noted that Bitcoin won in the US becausethat it has a fixed commodity status, while other cryptocurrencies are in an uncertain status. However, the lack of regulatory transparency in the US for cryptocurrencies in general is one of the main stopping factors for Bitcoin adoption.

The Bakkt platform is currently availableonly for US customers, but the company is working to expand the business, and after the adoption of MiCA in Europe, this market may become one of the highest priorities:

"Any form of regulatory certaintygood for cryptocurrencies. People understand their position, how to work with cryptocurrencies, how to comply with regulatory requirements. This allows companies and financial institutions to participate in the industry. Regulatory certainty attracts a huge number of people, capital and creates vacancies into the field.”

Bakkt recently announced it was delisting a large number of tokens and cryptocurrencies from its platform as part of its move away from retail customers.