Bitcoin came to life in 2008 as the financial system was imploding. Now that utopian vision is under fire, and everyone is asking: will a new era of regulation kill or strengthen cryptocurrencies?
However, other big investors disagree cryptocurrencies give higher returns – relative to the risk — and are steering away from crypto.
Its chief investment officer Taimur Hyat argued that crypto is not a quite currency and that there is little evidence that cryptocurrencies deliver diversification compared with mainstream financial assets.He noted that with cryptocurrency like bitcoin "you get the same risk-adjusted returns as other asset classes, but you have far more volatility"."We asked, do they [peoples' investments in cryptocurrencies] absorb shocks over time? Crypto does not achieve that.
"Businesses and exchanges have an obligation to ensure that they're not engaging in misleading and deceptive conduct." "Stablecoins raise policy concerns, including those related to illicit finance, user protection, and systemic risk," Dr Yellen said. From a local perspective, Australia's new Labor could impose tougher regulation. In the lead up to the election Labor's Stephen Jones had said that would consider crypto regulation as part of a broader overhaul of the digital payments system.A spokesman for ASIC said the regulator does not currently regulate crypto assets unless they are legally considered as financial products, "and it is not always clear whether a particular crypto-asset product is within our jurisdiction".
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