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- Despite the wave of rising scepticism, digital assets helped millions of American make money.
- Regulator interest in crypto will have a positive impact on crypto’s growth.
- Crypto alone has generated tons of jobs for American citizens. This is something necessary for America.
BlockFi’s CEO, Zac Prince, says that regulators involving themselves in cryptocurrency will have a positive effect on the assets. The Biden government has been keeping an eye on the volatile digital assets market. The U.S. Government officials were recently informed about the risk of the crypto market earlier this month by the Treasury Department. Several regulators also discussed the same with the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau (CFPB).
Recent Senate Meeting Suggests a Positive Overall Trend for Crypto
The United States Senator Elizabeth Warren believes that the crypto market is fluctuating, and the BlockFi CEO agrees with that. However, Prince believes that since the SEC is looking after the risks associated with crypto and the clarification after that will impact the cryptocurrency sector is an excellent way. In their official YouTube channel, Bloomberg Technology posted a video titled “Regulation Will Have Positive Impact on Cryptos: BlockFi CEO”. Prince in the video said how regulator interest in crypto would be hugely beneficial for the sector and BlockFi.
Regulator Interest Will Help Investors and Consumers Gain Confidence
Prince adds that we must not forget that despite the wave of rising scepticism, digital assets helped millions of American make money. Crypto alone has generated tons of jobs for American citizens. Prince says that this is necessary for America. He also announced that the company is launching a bundled financing and trading platform designed specifically for institutional and high-net-worth clients to gain more exposure to crypto products. He added that cryptocurrency had been the best performing asset class in seven out of the last ten years.
Prince believes that the regulator’s interest in crypto is quite natural. Furthermore, the most recent Senate Banking Committee hearings hints at a constructive overall trend towards the crypto sector. According to Prince regulatory clarity, will help crypto-related companies like BlockFi, perform better with improved innovation.
In addition, it allows consumers and investors to play confidently in the sector. The Senate Banking Committee, in a recent conference, discussed the possibility of a U.S. government-backed central bank digital currency.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
