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Global brokerage company BGC Partners (BGCP) plans to build a cryptocurrency exchange and launch it by the end of this year or the first quarter of 2023, CEO Howard Lutnick said Wednesday during Piper Sandler’s Global Exchange & Brokerage Conference in New York.
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The initiative is among the latest moves by a traditional Wall Street firm in the crypto space.
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Lutnick said he’s bullish on BGC adding a crypto offering, and the company can compete with global crypto exchanges given its technology and speed of BGC’s platforms.
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In addition, Lutnick said he’s used to regulation. “So what,” Lutnick said regarding SEC Chairman Gary Gensler wanting to regulate the crypto sector.
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