The United States regulator said this week that the price of bitcoin (BTC) could double if a framework is finally put in place to regulate cryptocurrency activities in the North American country.
He is the chairman of the Commodity Futures Trading Commission (CFTC), Rostin Behnam. For him, the system received from the office he heads would benefit the market. “Growth can happen if we have a well-regulated space,” he said.
During a debate at New York University, Behnam, who argues for regulation Bitcoin In the United States with Gary Gensler (Securities and Exchange Commission member), said the innovative cryptocurrency “could double if there is a CFTC-regulated market.”overview CoinDesk.
This is because regulating this base could attract more institutional investors, which would increase the price of BTC. In his opinion, companies “see a huge opportunity to enter the institution, which will only happen if there is a regulatory structure in this market.”
According to Behnam, Bitcoin-related businesses can only thrive with “regulation” and the “certainty” it brings to those who are part of the market. This has added to the fact that companies are regulated they may have “attributes” that would “beat everyone else in the market”.
Benham supports Bitcoin regulation
This is not the first time Behnam has advocated for regulation. As CriptoNoticias reported a couple of months ago, a US official called for clear and neutral rules for the cryptocurrency market. cryptocurrencies, due to the bear season that the ecosystem experiences from May.
Behman also pointed to legislative proposals pending in the United States Congress, which aim to provide a legal basis for the use of cryptocurrencies in that country.
At least three projects propose the CFTC to take the lead as the primary regulator of the North American nation’s ecosystem. We are talking about them this CryptoNoticias article.
But the dispute with the Securities and Exchange Commission (SEC) continues to the point where the agency wants to regulate. cryptocurrency exchanges, for example, in stock exchanges. that when there is still no consensus on the issue in the US Legislature.