Former regulator criticizes the US position in relation to the crypto currency

The former chairman of the Commodity Futures Trading Commission (CFTC), Jim News, on Thursday warned US regulators that they should be very cautious in handling the crypto-currency space, as well as the rules for these, or regulators should be equal to the rest of the world.

Newsom gave comments during the annual meeting of the Digital Chamber of Commerce, along with former commissioner of the US Securities Commission Paul Atkins. Two former government officials were to provide their report on improved practices for purchases and issuers of crypto currency, but Newsome said the project was delayed by two weeks, because the work was more complicated than originally thought.

Protection of New Zealand's crypto currency

At the same time, Newsom rejected the theory that the crypto currency is a bubble, saying that the industry is still too small and too immature, and large distributors, such as institutional investors, are still waiting on the sidelines due to uncertainty over the crypto currency in the normative sphere.

He also criticized the tough position of the current chairman of the Securities and Exchange Commission (SEC) Jay Clayton regarding the digital currency:

"It is possible that he acts like this because he receives orders from the White House and the Treasury Department."

We will remind that earlier the Securities and Exchange Commission obliged all crypto-exchange exchangers.

Author: Andrey, analyst Freedman Club Crypto News

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