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Friday, March 9, 2018

Crypto News: Cryptocurrency Bubble Burst Unlikely, Says Ex-CFTC Chair, Now Crypto Industry Adviser

Cryptocurrency Bubble Burst Unlikely, Says Ex-CFTC Chair, Now Crypto Industry Adviser

A burst of the cryptocurrency bubble is unlikely because the industry is too immature and the big money isn’t there as institutional investors sit on the sidelines because of the regulatory uncertainty, ex-Commodity Futures Trading Commission Chair and current cryptocurrency developers, miners and exchanges adviser Jim Newsome said today.

Newsome and former SEC Commissioner Paul Atkins were to have presented a report on best practices for cryptocurrency token issuers and purchasers today at the Chamber of Digital Commerce’s annual meeting, but Newsome said the completion has been delayed for two weeks because the project is more complex than originally contemplated.

Newsome said Securities and Exchange Commission Chair Jay Clayton is probably taking a hard line on cryptocurrency because he is getting word from the White House and the Treasury Department.

Newsome warned there is global competition among regulators to oversee cryptocurrency and the U.S. agencies have to be careful they don’t run behind the rest of the world in innovation.

Full story at

Source: Forbes

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