The crackdown on cryptocurrencies may be good after all

Regulating cryptocurrency and Department of Justice launching an investigation into crypto pricing, could help clean up the market for good digital coins, preventing future manipulations. and… many traders believe that the after regulation market is going to be hot:

 “When [regulators] come out with regulation, it’s going to open the floodgates for new money to come into crypto,” says crypto trader Ran Neu-Ner.

Regulating cryptocurrencies is basically  good thing and it might even help the digital currency market grow into all sorts of uses as the crypto trader Ran Neu-Ner told CNBC on Thursday as well.

“When [regulators] come out with regulation, it’s going to open the floodgates for new money to come into crypto,” the host of CNBC Africa’s “Crypto Trader” said on “Fast Money.”

“I hope that they can catch the people [conducting fraudulent activities], because we have to weed out the bad actors,” said Neu-Ner, who is the founder of OnChain Capital and an early investor in bitcoin.

“If we have bad actors, it’s going to create a lack of trust in this asset class,” he said. “If we want to make this a real asset class, with real people, then let’s weed out the bad actors. But the first step is, let’s legislate first; let’s regulate first. So we know what the playing field looks like.”

The Department of Justice this week launched an investigation into whether traders have been manipulating the prices of bitcoin and other cryptocurrencies — part of increased regulatory scrutiny in the sector.

 

Tags: economy, technology, money, News, cryptocurrencies, bitcoin, ethereum, ether, bitcoin price, bitcoin market, bitcoin prediction, ethereum prediction, crypto future, bitcoin news

Mohsen Daemi
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