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RE: Bakkt to launch this quarter?
I think Steem is very interesting from a regulatory perspective because Steem didn't had an ICO. Its users are mostly from the US and Steemit.com headquarters is also in the US. If Steem becomes more popular, than it has a higher chance of approval by the SEC and Bakkt is probably speculating on that outcome.
Lets cross fingers that something great falls from the sky :-)
I think the not doing an ICO is very beneficial for steem overall. Should help them eventually get on Coinbase as well.