CFTC Chairman to Improve Confidence in Cryptographic Money
加 Financial authorities “Applying the Securities Act on cryptocurrency exchanges and derivatives”
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Bitcoin, which is the owner of virtual currency (encrypted currency), has surpassed $10 million. It is the first time in two months since the 10 million won level collapsed in November last year.
According to the cryptocurrency exchange, the market price of bitcoin is currently at around 10 million won as of Thursday.
The related industries attributed the rise in bitcoin prices to the possibility that cryptocurrency bills will enter the financial system centering on North American countries such as the U.S. and Canada.
Heath Tabard, chairman of the U.S. Commodity Trade Commission, said in an interview with the business news outlet “Cheddar” on Wednesday that allowing people to enter the world of CFTC could improve overall confidence in cryptocurrency. The move is helping legalize digital assets, or cryptocurrency, and provide liquidity to the market,” he said.
The news that Christopher Giancaro, former CFTC chairman, will establish the “Digital Dollar Foundation” and study blockchain-based virtual dollar currencies also drew attention. It is heard that Accenture, a global consulting firm, participated in the Digital Dollar Foundation as a partner and was joined by former U.S. IT company Cisco and CFTC officials.
The Canadian financial authorities’ announcement of a guideline to apply the securities law to cryptocurrency exchanges was also a positive factor. The Canadian Securities and Exchange Commission (CSA) announced on Monday that “the exchange that provides cryptocurrency and derivatives is subject to securities law,” and added, “We need to incorporate cryptocurrency exchanges into the financial system to be subject to the same regulation.”
Meanwhile, the rise in the bitcoin market was attributed to overseas funds. According to Coin Hills, a website for cryptocurrency statistics, the dollar accounted for 72.39 percent of legal currency-bitcoin transactions as of Thursday, and the yen accounted for 16.97 percent of the transactions. The won accounted for 1.8 percent of the total trading volume.