Apparently, the latest regulatory news in the cryptocurrency world are a ‘good thing according to Michael Novogratz. The billionaire investor and hedge fund manager said that he welcomes the investigation, something that Cameron Winklevoss supports as well.
Novogratz in Favour of Healthy Regulations
As virtual currencies expanded and reached new individuals all over the world, regulatory agencies are also trying to have a better participation in the game. Some people believe that this is not so good, and that the market should grow freely. But some crypto supporters, like Mike Novogratz and Cameron Winklevoss are in favour of healthy regulations.
Mr. Novogratz said:
“Weeding out the bad actors is a good thing, not a bad thing for the health of the market. Plenty of exchanges have these inflated volume numbers to create some sense of excitement around coins.”
At the same time, Cameron Winklevoss explained that these regulations are welcomed by the market if they help deter bad actors.
“We welcome any inquiry that serves to foster rules-based marketplaces and deter bad actors,” Mr. Winklevoss stated.
Additionally, Thomas Lee, Fundstrat Global co-founder, said in an email to Bloomberg, that these regulations are welcome news because that means that there is ‘adult supervision coming/here.’
At the moment of writing this article, Bitcoin is being traded around $7,500 dollars, after losing $2,500 dollars since the beginning of May. In the last hour, every single virtual currency is operating in the green zone.
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