Managing Director of eToro US: I hope to see the New York State Department of Financial Services create a more "competitive environment" for encryption companies.

According to Yahoo Finance, eToro US Managing Director Guy Hirsch said that Bakkt has been approved, as regulators continue to approve more projects, industry participants have a clearer understanding of the conditions needed to provide digital assets to US investors. . Hirsch said he hopes to see the New York Financial Services Department continue to create a more "competitive environment" for encryption companies, adding that New York is the world's financial center if regulators can build emerging technologies, including digital assets. The framework, then the state has great ability to maintain this title.