Former US Federal Deposit Insurance Corporation (FDIC) chairman Sheila Bair announced on Friday, 19 January, that CNBC‘s “Fast Money ”, he said that there is no reason why Bitcoin (BTC) should be banned as an asset, but digital currencies need additional regulation.
Bair said that while there was no ban against BTC previously in December 2017, it needs more regulation Yahoo.
Bair said in an interview with “Fast Money” on Friday:
“Assets we should not ban it, but crypto money markets need to be regulated to prevent money laundering and potential market manipulation.”
Bair, CBOE and CME‘s launch of Bitcoin futures contracts. Comment on this topic:
“I think it would be really helpful for CME and CBOE’ to launch futures, because it gives regulators, futures will present a window providing more information about the Bitcoin exchange where transactions are funded. This window will also inform the CFDC whether any manipulation is in progress or not.. “
Bair‘s main concern with Bitcoin right now is that the public may be lured by the promise of high returns and we have yet to know what these products are.
Bair says the following regarding the general public understanding of cryptocurrencies:
“I think there are many illusions about Bitcoin and Blockchain technology.”
Bair is currently using Blockchain technology He serves on the board of directors of Paxos, a fintech company working with. During the CNBC interview, he also stated that he does not own Bitcoin’.
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