CFTC Ex-Chairman: Crypto Bubble Collapse Is Unlikely
March 10, 2018
Feasibility of cryptocurrency bubble to burst is small as the industry is still unmatured and the volume of funds invested is not big. What is more, institutional investors are not eager to take part in it because of lacking state regulation, as the former chairman of the Commodity Futures Trading Commission (CFTC) Jim Newsome said.
He believes, the tough stance on cryptocurrencies taken by the head of the US Securities and Exchange Commission Jay Clayton was pressed on by the White House and the US Treasury Department. Remember, SEC often comes with claims warning the investors against cryptocurrency risks and it shared some hints on choosing the most secure trading platform.
According to the CFTC’s ex-chairman, financial watchdogs around the globe come into competition against each other while putting crypto world under control. He advised the American ones no to lag behind the rest of the world as far as innovations are concerned.
The issue of crypto bubble has become a subject of heated debates since the moment of rapid market cap growth in 2017. The idea of possible digital currency bubble collapse is supported by many key figures of the financial world with George Soros, Warren Buffet as well as the heads to major world banks among them.