Bitcoin, Ethereum price moves higher after Gensler’s comments

Bitcoin, Ethereum price moves higher after Gensler’s comments
фото показано с : invezz.com

2021-8-5 20:23

Securities and Exchange Chairman Gary Gensler was on CNBC Wednesday morning to discuss his views on how the crypto universe should be regulated. Despite previously noting that the crypto sector has become “highly speculative stores of value,” Bitcoin (BTC/USD) price and Ethereum (ETH/USD) price traded higher.

According to one crypto pro, his comments shouldn’t necessarily be considered bad for the industry.

Cryptos will lead to a ‘better tomorrow’

Chris Zuehlke, Cumberland global head, commented on CNBC’s “Squawk on the Street” it is fair to say that there is some speculation in the crypto world but Gensler’s blanket statement is “short-sighted.” Bitcoin and Ethereum in particular represent “monumental shifts in technology” that represent a “better tomorrow”.

Cryptos will aid in global financial inclusion and the world is “receptive” to these changes, he said.

Zuehlke’s comments seem to be echoed by investors as Bitcoin was higher by 2.6% on Wednesday while Ethereum was showing outsized gains at nearly 9%. Perhaps adding to the gains was a Tweet from Commodity Futures Trading Commission boss Brian Quintenz which eased any headwinds associated with potential regulations that would slow down the pace of innovation in the crypto world.

Quintenz said the SEC has “no authority” over crypto assets and their trading venues.

Just so we’re all clear here, the SEC has no authority over pure commodities or their trading venues, whether those commodities are wheat, gold, oil….or #crypto assets.

— Brian Quintenz (@CFTCquintenz) August 4, 2021 Innovation and regulation can coexist

Even if the SEC can introduce new rules impacting the crypto universe, it would be wrong to assume this represents a headwind for the industry. According to Zuehlke, innovation and regulation “do not need to be mutually exclusive.” He explained:

I think when someone like Chairman Gensler speaks on this topic, what’s important to understand is that the conversation should continue. And the regulators and market participants should work together to make sure we implement smart regulations to provide the investor protections.

The post Bitcoin, Ethereum price moves higher after Gensler’s comments appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

ETH/LINK Price Action Candlestick Set (LINKETHPA) на Currencies.ru

$ 467.1 (+0.48%)
Объем 24H $0
Изменеия 24h: 0.85 %, 7d: 17.53 %
Cегодня L: $453.49 - H: $467.1
Капитализация $0 Rank 3676
Доступно / Всего 0 LINKETHPA

price bitcoin crypto usd ethereum higher gensler

Источник: invezz.com

price bitcoin → Результатов: 126


Фото:

Bitcoin To $240,000: Analyst Cites Key Narrative As Catalyst

Bitcoin price has fallen by over 10% after briefly touching its all-time high of $69,000, propelled by investors’ flood of money into BTC Spot Exchange-Traded Funds (ETFs). However, intense volatility surrounding the crypto asset’s price has triggered a rebound to the $68,000 mark, which highlights the return of positive enthusiasm, prompting predictions of a significant rally to an unprecedented height.

2024-3-9 19:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Exclusive interview: Playnance COO sees a ‘new generation of GameFi’ ahead

Bigger, more notable names in gaming will eventually “adopt blockchain technologies”, says Yaniv Baruch. He’s the chief operating officer at Playnance.   What Baruch expects will help boost blockchain integration Baruch acknowledged user experience and complexity as “major barriers” for the gaming companies to switch to blockchain technologies.

Sceptre launches liquid staking on Flare to maximize FLR yield

Sceptre, a new liquid staking protocol developed by Rome Blockchain Labs (RBL), is now live in private beta on the Flare blockchain. This innovative protocol is designed to maximize the yield of the FLR token by enabling holders to participate in decentralized finance (DeFi) protocols while still claiming native Flare rewards and monthly FlareDrops. Integration […]

HAQQ Network teams up with evmOS to broaden DeFi functionalities

HAQQ Network teamed up with evmOS to offer a broader range of DeFi functionalities to its users and developers on Wednesday.   Details of HAQQ-evmOS partnership The new partnership enables “cross-chain compatibility” with the Cosmos and Ethereum networks.