Arrange cryptocurrency is a good thing and could even help advance digital currency market, said trader cryptocurrency Ran Neu-Ner on Thursday (24/5).
"When regulators come out with regulations, it will open a new space to enter into the market of crypto," said emcee "Crypto Trader" CNBC Africa on "Fast Money".
While the Neu-Ner said there will be tough measures during this process, and his support of it.
"I hope they can catch people who commit fraudulent activities, because we had to get rid of the bad actors," said Neu-Ner, who is the founder of OnChain Capital and early investors bitcoin.
"If we have a bad actor ', ' it will create a lack of trust in this asset class," he said. "If we want to make this a real asset class, with real people, then let's get rid of the bad actors. But the first step is, let's first act; Let's set up first. So we know what the playing field. "
This week, the U.S. Department of Justice (DOJ) launched an investigation into whether traders have been manipulating prices and other cryptocurrency bitcoin – part of the increased regulatory scrutiny in this sector.
Earlier this month, the US Securities and Exchange Commission launched HoweyCoins.com, a site designed to teach investors about fake, or ICO deals early coins, which may look like it. "Crypto-Operation Sweep," the North American Securities Administrators Association, look into the 70 possible crypto schemes, also starting in May.
Founder and CEO of investment firm BKCM Brian Kelly told the CNBC "Power Lunch" that the DOJ investigation is not always a bad thing.
"They will be able to clean up the Exchange cryptocurrency a little bit," said Kelly, whose company focuses on digital currencies.
Neu-Ner said that with the market size is smaller and fewer people in the industry who are not regulated and often misunderstood, it is easier to make use of what is not known.
But now, he said, the regulation is a good thing, since manipulation will be harder with "eyes everywhere."
"Everyone is worried about who is watching," he said.
Kelly agrees, pointing out that a clear regulatory guidelines and the free market manipulation is just one of the guidelines of the SEC to be physically traded fund exchange traded (ETF).
"This is another step towards the maturation process," said Kelly.
Neu-Ner had previously warned investors and regulators for the need to set rules on bidding early coins, or ICO, in a US Securities and Exchange Commission. Or else, he said, the United States could be at risk of "left behind" other countries in terms of innovation and hosting companies that use the technology blockchain.
Bitcoin, which appreciated around $7,500 on Thursday afternoon, at 5.30 pm. ET, reaching the highest price of around $19,500 in the month of December.
Earlier this month, the US Securities and Exchange Commission launched HoweyCoins.com, a site designed to teach investors about fake, or ICO deals early coins, which may look like it. "Crypto-Operation Sweep," the North American Securities Administrators Association, look into the 70 possible crypto schemes, also starting in May.
Founder and CEO of investment firm BKCM Brian Kelly told the CNBC "Power Lunch" that the DOJ investigation is not always a bad thing.
"They will be able to clean up the Exchange cryptocurrency a little bit," said Kelly, whose company focuses on digital currencies.
Neu-Ner said that with the market size is smaller and fewer people in the industry who are not regulated and often misunderstood, it is easier to make use of what is not known.
But now, he said, the regulation is a good thing, since manipulation will be harder with "eyes everywhere."
"Everyone is worried about who is watching," he said.
Kelly agrees, pointing out that a clear regulatory guidelines and the free market manipulation is just one of the guidelines of the SEC to be physically traded fund exchange traded (ETF).
"This is another step towards the maturation process," said Kelly.
Neu-Ner had previously warned investors and regulators for the need to set rules on bidding early coins, or ICO, in a US Securities and Exchange Commission. Or else, he said, the United States could be at risk of "left behind" other countries in terms of innovation and hosting companies that use the technology blockchain.
Bitcoin, which appreciated around $7,500 on Thursday afternoon, at 5.30 pm. ET, reaching the highest price of around $19,500 in the month of December.
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