The former boss on the Commodity Futures Trading Commission (CFTC) believes that the cryptocurrency bubble is not very likely to burst.

A Forbes report said Jim Newsome, who can serve as an adviser to cryptocurrency developers, exchanges, and miners, explained on Thursday that this digital currency industry “is too immature and big money isn’t there as institutional investors sit on the sidelines with the regulatory uncertainty.”

According to the Forbes article, Newsome and erstwhile U.S. Securities and Exchange Commission (SEC) commissioner Paul Atkins were scheduled offer on Thursday an investigation on best practices for cryptocurrency for coin issuers and purchases on the Digital Chamber of Commerce annual meeting, but the report wasn’t finished on time.

The completing the report was delayed for two weeks with the complex nature of your issue.

SEC hardline stance

Newsome tweeted that SEC chairperson Jay Clayton “is probably getting a hard line on cryptocurrency because he gets word from the White House and the Treasury Department.”

Newsome warned that regulators worldwide are competing to handle cryptocurrency which U.S. agencies have to be careful they do not get left out in innovation than others abroad.

NASDAQ Index Research and Product Development head Dave Gedeon said inside the Digital Chamber of Commerce conference the SEC “is picking a harder line on investor protection for cryptocurrency products versus CFTC and perhaps won’t approve a cryptocurrency Exchange Traded Fund (ETF) this year.”

Bitcoin’s net worth is priced at $80 million since they were introduced on Dec. 18. (Source)

Additional authority to regulate crypto products

On additional hand, Depository Trust and Clearing Corporation (DTCC) Global Policy Chief Mark Wetjen expects the U.S. Congress to give the financial regulatory agencies added authority to alter cryptocurrencies.

The DTCC C the premier post-trade market infrastructure to your global financial services industry C processes trillions of dollars in securities transactions on a daily basis.

CME Group Chief Commercial Officer Julie Winkler, on her behalf part, says Bitcoin futures trading averaged 1.500 deals daily with approximately $80 million in notional value ever since they were introduced on December 18.

The futures exchange official said futures contracts do well for Bitcoin price discovery and risk transfer.

2019 when the best year for cryptocurrencies

Meanwhile, Julian Hosp, founder of TenX C a service “that makes cryptocurrencies spendable in everyday life,” said in a CNBC article that it year might be the best one for cryptocurrencies, citing five factors. These?are:

  • The work towards scaling issues
  • Large-scale and many more legitimate initial coin offerings
  • Regulation
  • A lots of execution and usability
  • Institutional investors

Hosp, however, said regarding all five factors occurring at the moment “is not 100 percent.”

“But I still go to a possibility of 70 to 75 percent. Every one particular might grow the market’s overall size 50 to 100 percent – possibly even 200 percent.”

Hosp also declared by combining the five factors, “the market’s upside potential could rise to up to seven or eight times this current levels.”

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DISCLAIMER: This post expresses my own, personal ideas and opinions. Any information I’ve shared are from sources that I believe to remain accurate and reliable. I did not get any financial compensation in making this post, nor should i own any shares in virtually any company I’ve mentioned. I encourage any reader to do their particular diligent research first before making any investment decisions.

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