íàçâàíèå

CFTC Ex-Chair: Crypto Bubble Wont Burst Without Set Regulations To Bring In Big Money

CFTC Ex-Chair: Crypto Bubble Wont Burst Without Set Regulations To Bring In Big Money
Ex-CFTC chairman turned crypto adviser Jim Newsome has forecast crypto markets continuing to grow until regulation is set in stone and big money is involved.

Former chairman Jim Newsome of the US financial regulator the Commodity Futures Trading Commission (CFTC) predicted that the alleged cryptocurrency “bubble” will not burst soon, Forbes reported on March 8.

According to Newsome, the lack of a concrete regulatory framework means that institutional investors are still not participating in cryptocurrency markets. Without clear regulations and the resulting injection of “big money”, a burst of the “crypto bubble” remains unlikely, Newsome told Forbes.

Commentators inside and outside the cryptocurrency realm remain at odds over whether crypto assets are or ever were in a price bubble.

Newsome commented from his new position as a central advisor to US policy makers on cryptocurrency. This week he was due to deliver a report together with former chairman of the Securities and Exchange Commission (SEC) Paul Atkins, but the report was postponed, Forbes reports.

Regulating crypto assets and business practices remains a central concern for the current chairmen of the two national agencies in 2018. Current policy has focused on giving the industry room to grow. During a joint hearing on cryptocurrency Feb. 6, the CFTC’s J. Christopher Giancarlo and the SEC’s Jay Clayton refrained from heavy-handed rules, while resolving to keep a sharp eye on emerging products and services to be sure they comply with existing US regulations.

Following the joint meeting, markets reacted warmly to the reiteration of what was largely Clayton’s previously voiced policy.

Further updates and details of an international cryptocurrency regulatory effort could soon emerge at the upcoming G20 Summit later this month.

09.03.2018 / 10:59 63
Former CFTC Chair: Cryptocurrency Bubble Is Nowhere Near Bursting Former CFTC Chair: Cryptocurrency
Think cryptocurrency is a bubble ready to burst? Think again, says the ex-head of the Commodity Futures Trading Commission. Too Deflated to Pop
US Regulators Working Together to Combat Crypto Fraud, Says CFTC’s Giancarlo US Regulators Working Together to
US regulators have begun to coordinate with their overseas counterparts to combat cryptocurrency fraud, Commodity Futures Trading Commission (CFTC)
CFTC's Giancarlo: US and Foreign Regulators Teaming Up on Crypto CFTC's Giancarlo: US and Foreign
U.S. regulators are working with their counterparts overseas to combat cryptocurrency fraud, Commodity Futures Trading Commission (CFTC) chairman J.
New York Federal Judge Rules That CFTC Can Regulate Cryptocurrencies As Commodities New York Federal Judge Rules That CFTC
A New York federal judge has upheld a fraud case against a crypto investment advice company, maintains that the CFTC can regulate crypto as a
US Judge Rules Cryptocurrencies are Commodities US Judge Rules Cryptocurrencies are
U.S. District Judge Jack Weinstein in Brooklyn ruled that the Commodity Futures Trading Commission (CFTC) has standing to regulate cryptocurrencies
US Federal Judge: Bitcoin and Cryptocurrency Are Commodities US Federal Judge: Bitcoin and
For the first time, a federal judge has upheld that Bitcoin and other cryptocurrencies are commodities and thus subject to regulation by the U.S.
Comments (0)
Add a comment
Comment on