Home » The sword of damocles hangs on Bitcoin, a possible squeeze of US regulators. Dure of the new head of the Comptroller of Currency

The sword of damocles hangs on Bitcoin, a possible squeeze of US regulators. Dure of the new head of the Comptroller of Currency

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Start of the week with pronounced bitcoin volatility. Overnight the cryptocurrency touched a low of 34,220 dollars, before rising again and currently travels above 37,000 dollars, with a + 2.5% in the last 24 hours (CoinDesk data). Investors are looking at possible future moves by US regulators.

Comptroller of Currency (OCC) new head Michael Hsu has signaled that more cryptocurrency regulations are on the way. In an interview with the Financial Times, the new head of the Comptroller of Currency (OCC) said the agency will abandon Trump’s regulatory measures in favor of stricter regulations in the industry. HSU is concerned about the lack of adequate supervision of the risk of harming savers and investors. What is alarming is the current enthusiasm regarding the banking innovation brought about by crypto and blockchain. According to Hsu, the current situation is comparable to the years that led to the financial crisis: “It is difficult not to feel a sense of déjà vu” with the danger that these new techniques give rise to “a large and less regulated shadow banking system “.

Other agencies dealing with the matter are the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC).

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