No one is going to ban Bitcoin – US banking regulator – Nairametrics
One of the main financial regulators of the world’s largest economy, the United States, recently revealed that the world’s flagship crypto is here to stay, amid rumors from various quarters about the likely Bitcoin ban.
In a report credited to CNBC, Brian Brooks, the acting currency controller, hinted that more regulations on bitcoin and other cryptos were already underway, but downplayed fears that such regulations would change. the fundamentals of the crypto market.
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In a recent interview with Melissa Lee on “Squawk Box”, he explained in more detail the “clarity” measure put in place for the cryptocurrency in the next six to eight weeks, but said: “no one is going to ban bitcoin.
“We’re very focused on solving the problems well, on not killing this. And it’s just as important that we develop the networks behind bitcoin and other cryptos, because that’s what will prevent money laundering and terrorist financing, ” he added.
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Fears over potential regulation were heightened last month when Coinbase CEO Brian Armstrong revealed via his Twitter account that he heard rumors that the US Treasury Department was working to put new crypto regulations in place beforehand. the end of President Donald Trump’s tenor.
“We have heard rumors that the US Treasury and Secretary Mnuchin are planning to pass new regulations regarding self-hosted crypto wallets before his tenure ends. I am afraid this may have unexpected side effects and I wanted to share these concerns ”, Armstrong said.
READ: Top US regulator speaks out on Cryptos and the future of banking in US Congress
Last week, we heard rumors that the US Treasury and Secretary Mnuchin were planning to rush on new regulations for self-hosted crypto wallets before his tenure ended. I am concerned that this will have unexpected side effects and wanted to share these concerns.
– Brian Armstrong (@brian_armstrong) November 25, 2020
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However, the main US regulator dismissed these fears, saying: “I think you’re going to see a lot of good news for crypto before term ends ”,
What you should know
- At the time of writing this report, Bitcoin is trading at $ 18,999.05 with a daily trading volume of $ 28,550,005,376. The price of BTC has fallen -1.7% in the past 24 hours.
- It has a circulating supply of 19 million BTC coins and a max supply of 21 million.