//Coinscrum Markets Ep010 Segment - Governance & Guardrails with Jeremy Allaire from Circle and Garrick Hileman from BlockChain.com
EXPANSION THROUGH ACQUISITION
This time last year, the one piece of the puzzle that was missing for Genesis was custody. Moro explained, “We had been non-custodial to that point but you can’t really call yourself a prime broker if you can’t hold client funds.”
Fortunately for the company, Genesis began discussions with Vo1t in 2019 before the emergence of the COVID-19 pandemic. Moro’s team was even able to perform on-site due-diligence in early 2020 before the lockdown measures were in place prior to announcing the acquisition in May.
Now that the Financial Action Task Force’s Travel Rule is making its way into the cryptocurrency industry, blockchain startups are on high alert, some of which are even falling by the wayside. And while many in the crypto community fear overregulation, Garrick Hileman, head of research at Blockchain.com, suggests that regulators are not the bad guys.
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