Former chairman Jim Newsome of the US financial regulator the Commodity Futures Trading Commission (CFTC) predicted that the alleged cryptocurrency “bubble” will not burst soon, Forbes reported on March 8.
According to Newsome, the lack of a concrete regulatory framework means that institutional investors are still not participating in cryptocurrency markets. Without clear regulations and the resulting injection of “big money”, a burst of the “crypto bubble” remains unlikely, Newsome told Forbes.
Commentators inside and outside the cryptocurrency realm remain at odds over whether crypto assets are or ever were in a price bubble.
Newsome commented from his new position as a central advisor to US policy makers on cryptocurrency. This week he was due to deliver a report together with former chairman of the Securities and Exchange Commission (SEC) Paul Atkins, but the report was postponed, Forbes reports…