Ethereum

Boost

Cryptocurrency

when

BlackRock

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/regulatory-clarity-could-boost-crypto-investments-in-the-us/" data-wpel-link="internal">Regulatory Clarity Could Boost Crypto Investments in the US</a> 
Regulatory uncertainty in the US is cited as the main factor preventing the $20 trillion financial advisory sector from investing more in the <a href="https://en.coin-turk.com/bitcoin-holds-above-critical-threshold-the-latest-on-cryptocurrency-markets/" data-wpel-link="internal">cryptocurrency market</a>. Bitwise’s Chief Investment Officer Matt Hougan highlighted that this uncertainty has prevented financial advisors from increasing their <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investments</a> in cryptocurrencies over the past five years. 
<h2 style="text-align: justify" id="strong-expansion-potential-of-the-cryptocurrency-market-strong">Expansion Potential of the Cryptocurrency Market</h2> 
Hougan emphasized that significant expansion in the cryptocurrency market would occur once regulatory clarity is achieved in the US. He added that eliminating legal uncertainties could pave the way for trillions of dollars managed by financial advisors to flow into the cryptocurrency market. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-359430" src="https://coin-turk.com/wp-content/uploads/2024/06/Kripto-Para-Bitcoin-Altcoin.png" alt="" width="569" height="495"> 
The Chief Investment Officer of Bitwise drew attention to the potential impact by comparing it to the positive market effects seen when the world’s largest asset management company BlackRock entered the cryptocurrency market. He noted that if Wall Street fully embraces the cryptocurrency market, it could signal an even more significant market shift. 
<h2 style="text-align: justify" id="strong-signs-of-regulatory-progress-strong">Signs of Regulatory Progress</h2> 
On the other hand, there are signs that the US is moving towards clearer regulatory frameworks for cryptocurrencies. Hougan highlighted a significant change that began last month when Democrats crossed the aisle to repeal Staff Accounting Bulletin 121. This repeal move is seen as a win by many in the cryptocurrency market, especially with the House’s passage of the Financial <a href="https://newslinker.co/" target="_blank" rel="noopener" data-wpel-link="exclude">Innovation and Technology</a> Act for the 21st Century (FIT21). Additionally, the US Securities and Exchange Commission’s (SEC) approval of spot Ethereum exchange-traded funds (ETFs) on May 23 is seen as another positive sign of regulatory progress. 
Despite this progress, the cryptocurrency market still faces various challenges. US President Joe Biden‘s veto of the repeal of FIT21 indicates that the cryptocurrency market still faces significant obstacles. Hougan expressed that he sees this veto as a minor setback, maintaining his optimism and noting that the cryptocurrency market has progressed for a decade despite regulatory headwinds. 
Hougan also added that the cryptocurrency market is not fully prepared for the potential changes that regulatory clarity could bring. The Chief Investment Officer of Bitwise stated that there is significant “alpha” to be captured because the market remains largely untouched by those outside the crypto bubble. He observed a lack of awareness and understanding about political developments related to cryptocurrencies even among industry professionals at conferences. 
Despite the current situation where significant policy in Washington has not changed, Hougan remains optimistic about the future. He noted that the tide might have turned, but the water has not yet come in. This metaphor indicates that while there are signs of progress, the actual implementation and impact of regulatory changes have yet to materialize. Hougan called for patience, stating that significant market actions are still pending. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/regulatory-clarity-could-boost-crypto-investments-in-the-us/" data-wpel-link="internal">Regulatory Clarity Could Boost Crypto Investments in the US</a></h5>

Regulatory Clarity Could Boost Crypto Investments in the US

Table of Contents

COINTURK NEWS

Other articles published on Jun 5, 2024

Bitcoin ‘coiling’ up for a huge move as it hovers around $71K

SEC to Close Salt Lake Regional Office Following Judge’s $1.8M Fee Order

BNB Price At All-Time High Reveals More than 25% Upside

MoonBag Presale Could be the End of Dogeverse and Kangamoon with its Exciting Features and High R...

DMM Bitcoin Addresses $300 Million Hack Loss

Chainlink Gains Momentum with Rising Real-World Asset Discussions

Join our free newsletter for daily crypto updates!