The well-known critic of the Federal Reserve and part-time supporter of cryptocurrency Ron Paul published an article entitled "Trump Is Right, Fed Is Crazy", where he urged to abandon the fiat money printed by central banks, and start using alternative calculation options, which include cryptocurrencies.
Paul, discussing recent interest rate rises that US President Donald Trump called "crazy", explains that people always prefer using precious metals in cases where the national currency becomes unstable because the value of gold and silver is more stable. Therefore, the only chance to avoid a pending crisis is to abolish the "monetary madness," which includes the taxing of Bitcoin and other cryptocurrencies.
The founder and CEO of Xapo, Wences Casares, stressed that Bitcoin is an intellectual experiment that still needs years to prove its success.
"It may work, it might not work," Casares said on Monday in a Bloomberg Television interview. "We are in the equivalent of 1992 for the internet," said Casares.
During the international meeting of regulators held last week, a member of the Commodity Futures Trading Commission (CFTC) positively assessed the potential use of the blockchain, emphasizing that the agency should respect the role of technology in financial markets.
CFTC Commissioner Rostin Behnam called for "unbiased regulation" of the financial technology industry, in particular, noting a number of applications for the distributed registry (DLT) during his speech at the annual International Association of Swaps and Derivatives (ISDA) in Tokyo.
The head of the Indian non-profit trade organization called the cryptocurrency "illegal" and urged enterprises to comply with local legislation.
Debjani Ghosh, president of the National Association of Software and Service Companies (NASSCOM), consisting of more than 2,000 companies, said that, from an organization's point of view, cryptocurrencies in India are illegal. According to her, the "illegal" status of cryptocurrencies was because the government could not keep up with innovations.
The head of deVere Group, Nigel Green believes that in the coming years, the superiority of Bitcoin in the cryptocurrency market will significantly decrease. However, this will not prevent the first cryptocurrency to grow by another 5000%.
Green, however, recognizes the merits of Bitcoin and the revolution accomplished by this cryptocurrency, but believes that new technologies and cryptocurrencies will surpass the progenitor in time.
Dash Core Group CEO Ryan Taylor said that cryptocurrency issued by central banks is "the inevitable future." However, he noted that people themselves will decide what forms of money and when to use.
In a conversation with the Cointelegraph at the "Money20/20" conference, Taylor said that central banks have advantages in issuing their own cryptocurrencies. However, it all depends on the adoption of such coins by the market: "the free market can certainly develop a better embodiment of money than the government."
Large economies should begin coordinated regulation of cryptocurrency, said Circle cryptocurrency startup leader Jeremy Allaire. He stressed the growing support for the creation of international regulations for the regulation of digital assets by the cryptocurrency industry.
"Ultimately there needs to be normalization at the G20 level of critical crypto-related regulatory matters," he believes.
The CEO of the upcoming cryptocurrency platform Bakkt, which is being developed by the operator of the New York Stock Exchange ICE, together with Microsoft and Starbucks, said it intends to carry out a "revolution" in the industry, similar to the one that happened with energy resources fifteen years ago.
On Monday, during a conversation with the publication of Fortune, Kelly Loeffler announced the appointment to the position of executive director of Bakkt former vice president of Coinbase Exchange Adam White. She also spoke about the possibility of a repetition of the situation in the past decade.
In a note to Fundstrat Global Advisors clients, analyst Tom Lee wrote that the Ethereum is ready to change the trend to a bottom line and make a strong rally.
