The introduction of cryptocurrency regulatory measures will help their adoption

Back in early February, U.S. Treasury Secretary Steven Mnuchin promised that the country would soon have rulesregulation of cryptocurrencies. The absence of crypto regulation is considered by many as a barrier to the development of innovations and the massive adoption of cryptocurrencies, and the lack of clear regulation poses great risks for the young industry.

Due to the lack of clarity in the regulation, many cryptocurrency exchanges have moved their activities from the United States to other countries.

Morgan Creek Digital co-founder Jason Williams in a recent podcast said his firm is in talks with regulators to develop rules for the cryptocurrency market:

"We're actively working with the SEC, FINCEN, discussing possible regulatory rules, and I think we'll all see them soon."

Congressional candidate David Hochstein whoHe is a supporter of cryptocurrencies, believes that the United States will lag behind in the development of the cryptocurrency market if they do not weaken regulation, as many cryptocompanies move to countries with better regulatory infrastructure.

"You can't regulate new markets based on 1993 laws"- he noted.

In addition, a recent report published by the Federal Reserve Bank of Dallas indicates that transparent regulatory measures could trigger further growth in cryptocurrency prices.

Negative mood regardingcryptocurrencies are reinforced by the development of central bank digital currencies (CBDC). Some countries, primarily China, are actively developing digital versions of national currencies.

Believed that after financialregulators, together with central banks, will issue their digital coins; they can ban cryptocurrencies. As a result, the CBDC will provide unhindered control over monetary policy.

«The US dollar has many enemies that are notwas earlier - China, the Middle East and Russia. I think this is why regulators are trying to do everything they can to control cryptocurrencies, but ultimately they will accelerate the crypto revolution.

5
/
5
(
1

voice
)