Global Banking Regulator Warns People Not to Invest in Bitcoin

Other industry insiders have a different opinion though.

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Despite the amazing Bitcoin’s uptrend this week, the chairman of global regulators at the Basel Committee and the governor of Sweden’s Riksbank, Stefan Ingves expressed his negative views. He warned investors that investing in Bitcoin is a huge risk for their funds.

The banking regulator highlighted that investment in things that rise rapidly isn’t a good idea at the general. Further, he added that the world of traditional banking and the future of digital currencies cannot work well together. No matter the technology available, the most probable for the banking system is to remain as we’ve known it, according to him.

What are other influencers’ opinions?

Obviously, many influencers both in and out of the cryptocurrency market receive Ingves’s comments as prejudiced, taking into account his current position as a banker.

For Instance, a few days earlier Mark Yusko stated that the bankers should be afraid of Bitcoin as its price has only started to rise.

The governments are getting more and more involved in the digital currency market.

Other industry insiders agree with Yusko’s opinion, while they’re speculating if governments will enforce new regulations regarding the digital currency market. Considering the anonymity Bitcoin and other cryptocurrencies provide, it’s likely that many governments will aim for greater control levels.

According to the Chairman and the Founder of Narrative, Ted O’Neill we will continue to see governments regulating the cryptocurrency markets. This was they can somehow control the transactions made in the crypto industry and gain some benefits such as taxes.

Also read on cryptonaAre Bitcoin And Other Cryptocurrencies Legal In India?

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