Friday 30 September 2022 ▪ 2:00 pm ▪
min read – with
After months of the market mark, investors are expecting a new situation. And this change has a name: the bull run “. To achieve this, Rostin Behnam, the chairman of the CFTC, recommends speeding up the regulation of bitcoin and cryptocurrencies.
CFTC pledges to regulate bitcoin
According to the head of the CFTC, the rise in the price of bitcoin is imminent, provided that the crypto space is regulated.
” Growth can happen if we have a well-controlled space. […] Bitcoin could double in price if there is a CFTC-regulated market “, he was breathing.
” The institutions
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Behnam appears to be a stickler for bitcoin regulation. Which turned out to be quite normal since he always recommended the establishment of a certain level of regulatory clarity in the world of cryptocurrencies.
It should also be noted that some international actors have recently called for the regulation of this ecosystem. This is especially the case with regard to Margaret McGuines, a member of the European Commission, who called for international coordination that would be favorable to ” basic aspects of the financial system “.
Financial institutions favor clear regulations
Clear regulations will encourage financial institutions to invest in cryptocurrencies. The CFTC is aware of this.
Is this the reason that prompted the Senate Agriculture Committee to support the CFTC becoming the first regulator of the cryptocurrency industry? In any case, Behnam supported the bill that would allow him to charge fees to regulated entities. In his opinion, this device would help any controller eliminate the “ unscrupulous authors “.
” We are [actuellement] with help from the Congress, and that has put us in a position where we feel that we are always on the edge in terms of the amount of money we will be receiving. We still feel the wounds and scars of five or six years of flat funding “, he specified.
The CFTC, which is set to become the main bitcoin regulator in the United States, sees a brighter future after crypto regulations are in place. If this step is taken, institutions will be a trophy to BTC, and as a result its price will increase. However, many investors are just waiting for the bull run. This is the sine qua non, according to the CFTC. We hope this prediction is correct.
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The blockchain and crypto revolution is underway! And the day the effects are felt on the most fragile economy in this world, against all hope, I will say that I was involved.