Jordan Belfort calls for massive” crypto regulation to further accept ad
Jordan Belfort calls for massive” crypto regulation to further accept ad
- The notorious dealer Jordan Belfort says that the regulation of the crypto industry would increase acceptance by the mainstream and accelerate crypto prices.
- Belfort insults Tether as fraud for increasing Bitcoin prices, but retains an optimistic outlook for the end of the year for cryptocurrencies.
Jordan Belfort, a notorious stockbroker or "The Wolf of Wall Street", has called for a "massive" cryptor regulation. The American author also attacked the number one of the stable coins, Tether, and called it a fraud.
"The earlier this massive regulation comes onto the market, the better it is for Bitcoin, StableCoins and everything else," said Belfort.
In addition, he said that there was nothing to fear if the regulatory authorities introduce the supervision of the cryptom market. In order to represent his point of view, he pointed out the historical precedent of the Junk Bond market of the 1980s. Instead of dying out, the market only shot up when the regulatory regime tamed it. In addition, he claimed that regulatory measures would ward off pump-and-dump fraud in connection with the asset class.
everyone said: 'Oh no, the supervisory authorities come! [But Ultimately] The market has grown much, so I think it is a good thing,
it is noteworthy that Belfort is not alone with its demand for increased cryptor regulation. US Senator Elizabeth Warren has confirmed the need for an additional supervision to free the market of "snake oil sellers".
Read more: US Senator Elizabeth Warren demands quick regulatory measures for crypto
tether and crypto regulation
Belfort commented on the latest news about Tether executives who were given an investigation by the doj due to bank fraud. He held on his many years of criticism of StableCoin and called her fraud. He even said that he was "shocked" about the small legal steps that had been taken so far.
U.S. U.S. authorities have examined Tether for market manipulation in connection with the 2017 cryptocurrency rally. In recent times, officials tried to find out whether the managers of the stablecoin hide the banks that their transactions contain crypto.
In an interview in 2018, Belfort said that he suspected that Tether was a "more massive fraud". Tether editions are used to have an inflationary effect on the price of Bitcoin, he argued. Some experts have drawn the same conclusions as Belfort. However, others disagree and say,
[…] The emission behavior can be explained in such a way that it maintains a decentralized system of exchange rate bonds and acts as a refuge in the digital asset economy.
also has Belfort, a long-time self-proclaimed crypto bull, criticizes the price targets for Bitcoin and Ethereum. The price forecasts are only used to fire the hype and are detached from the crypto bull case, he emphasized. Belfort, however, admitted to owning both assets.
"I think [Bitcoin] has a great chance of being seen as a digital gold," said Belfort.
So he stated his price goals according to his market analysis. Bitcoin expects Belfort to a price range at the end of the year of $ 45,000 to $ 70,000, compared to around $ 39,940 on Thursday. As far as Ethereum is concerned, Belfort expects our data with a range of $ 3,700 to $ 4,500, compared to about $ 2,300 on Thursday.
Source: Crypto-news-flash.com
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