How Regulators Are Working to Solve the Issue of Bitcoin

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The Securities and Exchange Commission Chairman, Jay Clayton recently testified for cryptocurrency to the Senate Banking Committee hearing on Tuesday February 5th. The Chairman stated that “there are many problems” that currently exist with the way that the markets operate surrounding bitcoin. A case went before the committee today to attempt to figure out how to viably regulate the cryptocurrency industry while maintaining the interests of those who are invested and would like to see it remain as free as possible.



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Since the beginning of cryptocurrency, the market has been sorely under regulated. This has resulted in a large amount of issues with investors losing money that has now way of being brought back to them as it potentially could in other markets. Chris Giancarlo, chairman of the Commodity Futures Trading Commission stated that having tighter regulation would help to protect investors from the large amount of fraudulent activity and the abuse that they face across digital currency markets. He stated that “what’s so challenging about bitcoin is that it has characteristics of multiple different things. We may be back with out friends form Treasury and the Fed to ask for additional legislation.”



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Many investors remain unhappy with the way that legislation is going. Of course, they would like the market to continue to be unregulated, but this just doesn’t make sense given the high amount of money that is invested and the large amount of criminal activity that is conducted in the market. Given that the market on cryptocurrency is still very much in its infant stages, as more and more regulatory measures begin to be put in place, the hopes are high that the market will be able to stabilize so that investors can feel safe about putting their money in crypto.

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