Jim Newsome, the former chairman of the U.S. financial regulator, the Commodity Futures Trading Commission (CFTC), predicts the alleged cryptocurrency “bubble” won’t burst anytime soon, Forbes reports.. Newsome thinks it’s too early to judge that crypto prices are overvalued without stable cryptocurrency regulation. is that it is not. Jim Newsome, the former chairman of the CFTC, claimed that unless there are clear regulations regarding the market, there will be no big money inflows.. He added that he does not think that there will be an explosion in a crypto market where there is no large inflows of money.
Jim Newsome is currently in his new position as an advisor to US policymakers on the cryptocurrency market.. As reported in Forbes, Newsome is preparing to present a report to US policymakers along with Paul Atkins, former chairman of the Securities and Exchange Commission (SEC).
The head of the CTFC and SEC also testified on cryptocurrency regulation
The issue of regulating crypto assets and their business applications seems to occupy the agenda of 2018.. Because the two national agencies, CTFC and SEC, are making great efforts in this regard.. The heads of the two national institutions are also very interested in these regulations.. The current policy is focused on the development of the industry.
As it is known, on February 6, the two presidents of the CFTC and SEC, J.. Christopher Giancarlo and Jay Clayton testified at the hearing on the cryptocurrency market. During the testimony, the two presidents expressed an opinion that refrained from making firm judgments about these emerging products and services in order to comply with current US regulations.. Another hot development ahead will be the G20 summit, where further updates and details of the International cryptocurrency market regulation effort will be discussed.. The G20 summit, which the cryptocurrency market will soon follow, will be held in Buenos Aires, Argentina at the end of March.
cointelegraph