American billionaire hedge fund supervisor Paul Tudor Jones mentioned bitcoin has a “actual downside” on account of unfriendly regulation within the US, in a latest interview with CNBC.
“Bitcoin has an actual downside as a result of in the USA, you’ve got a whole regulatory equipment in opposition to it,” Jones mentioned.
Showing on CNBC’s Squawk Field on Monday, the notorious dealer spoke about his investments in bitcoin and mentioned he deliberate to keep it up.
“I’m sticking with it,” Jones mentioned. “I’m going to at all times keep it up as only a small diversification of my portfolio.”
At its peak in November 2021, bitcoin was valued at near $68,000 and has since fallen near $27,000 as of Monday night.
US regulators’ views on bitcoin
Securities and Trade Fee Chair Gary Gensler has outwardly mentioned that bitcoin shouldn’t be a safety, and in reality, every thing however the longstanding crypto could be a safety, he mentioned in an interview with Intelligencer in February.
Gensler has additionally mentioned most cryptocurrencies are securities and due to this fact regulated by the SEC.
The excellence is essential because the CFTC is tasked with overseeing futures, choices and swaps, whereas the SEC is ready as much as regulate securities comparable to shares.
In the meantime, Commodity Futures Buying and selling Fee Chair Rostin Behnam has asserted that bitcoin is a commodity, so it could fall underneath his jurisdiction.
US lawmakers are engaged on payments to make a clearer divide between what cryptocurrencies could be securities or commodities.
Sens. Cynthia Lummis, R-Wyo., and Kirsten Gillibrand, D-N.Y. have plans this spring to introduce a revised model, first launched final June, of the Accountable Innovation Act, in response to Blockworks.
In it, the pair delegated oversight of the preferred cryptocurrencies to the CFTC whereas addressing stablecoins and taxes.
The lawmakers mentioned the newer model will probably be extra detailed when defining tokens and make clear definitions.