Home Cryptocurrency The US Regulatory Body Not Being Clear About Cryptocurrency

The US Regulatory Body Not Being Clear About Cryptocurrency

According to the co-founder of a crypto finance company in the name of Goldman Sachs and Circle, he said that the biggest problem the cryptocurrency world is experiencing today is the fact that the United States security regulator is not coming out clear about how they see the numerous cryptocurrencies we have.

Jeremy Allaire made his Opinion clear in a statement he had in a AMA reddit thread with the co-founder of Circle in the name of Sean Neville.

A question was then asked about what Circle is doing to educate some of the regulatory bodies about cryptocurrency. Jeremy of the Circle responded by saying that “the biggest and most immediate regulatory hurdle we face is the lack of specific guidance from the SEC on how to classify various crypto assets.”

He also continued, saying “we believe many are clearly currencies and commodities, and there needs to be more specificity on what are really securities. This can unlock a lot of market activity, and also clearly enable the growth of a market for crypto-based securities.”

They also went further to say that France has tried to get a statutory bill to make cryptocurrency easy. However, France recently encountered a setback concerning this bill in their parliament.

According to the chief compliance officer and head regulatory counsel for Circle in the name of Robert Bench, he said that the US is yet to do anything as regards to the cryptocurrencies.

Jeremy said that later on Bitcoin will be worth more than what we see now. We hope the US comes out clear about cryptocurrencies. We also hope the US accept Bitcoin as a means of payment and we will be happy if Bitcoin is worth more than how we see it now.


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