(Kitco News) The crypto crash over the summer was the market correcting itself after a lot of leverage mixed in with bad actors needed to be fleshed out, said KPMG in Canada's director and co-leader of crypto assets and blockchain Kunal Bhasin.
The Terra Luna collapse and the contagion risks that led to the crypto selloff were "the necessary evil for the industry because there were a lot of bad actors," Bhasin told Kitco News on the sidelines of the Blockchain Futurist Conference in Toronto. "When we say the market corrects itself, that's exactly what happened."
But coming out of this, there's going to be a lot more maturity in the space, Bhasin said. "We saw the level of maturity that the space got after the 2018 cycle and the infrastructure that was built to address all of the challenges. The maturity of the crypto custodian infrastructure, crypto wallets, and how we interact with it. We've seen tremendous improvement over the last three years. And that's what I expect coming out...
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