American expert: Cryptocurrency …

American expert: The cryptocurrency community should prepare for new restrictions

Bart Chilton, a political commentator and former Commissioner for the US Commodity Futures Trading Commission, believes that the cryptocurrency community should prepare for new restrictions, as global regulators are showing increasing interest in this area. He stated this during a speech at Hong Kong fintech week..

“Look at what has happened to the price of bitcoin over the past few months. This is not the level of stability that I would like to see as a regulator, ”TheStreet quoted him as saying. “If the fintech community does nothing, the regulators will have to intervene”.

Chilton added that regulators will continue to expand their own powers over ICOs: “So far, no one has proposed a regulatory regime that works.” He also noted that the main concerns of regulators are related to the identification of investors and the fight against money laundering..

American expert: Cryptocurrency ...

Several regulators have already begun to take action in this area. So, in September, the People’s Bank of China announced that 90% of ICOs are fraudulent schemes, and completely banned raising capital using this financing method. A similar initiative was put forward by South Korean regulators at the end of September.

American expert: Cryptocurrency ...

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