Ex-financial regulator wishes he invested in bitcoin back when he was telling everyone to be careful

A former financial regulator said Thursday that he wished he had invested in bitcoin and other popular cryptocurrencies back when he was telling everyone to be careful.

Bart Chilton, a former commissioner of the Commodity Futures Trading Commission, says he’s been calling for cryptocurrency regulation since 2012. In the fall of 2017, when the price of bitcoin was fluctuating, Chilton said he would have sought an investigation into the “precipitous price changes” witnessed.

Chilton said Thursday that it’s still the “Wild West” outside the regulated futures market, but added that the massive price fluctuations have since “mellowed out.”

“I wish I had been investing when I told everybody to be careful,” said Chilton, who says he now owns bitcoin and ethereum. “I had a lot of my friends that said, ‘You told me not to invest.’ They would have been millionaires.”

Exchange operators such as CME Group and Cboe Global Markets have opened their platforms to allow bitcoin futures trading.

“There’s a shaking out going on in the digital currency world,” Chilton said in the interview with CNBC’s “Squawk on the Street.” “There’s a lot of craziness out there, but as we go forward on CME and Chicago Board Options Exchange [I think] it is a first step at regularizing.”

The price of bitcoin and other major cryptocurrencies fell this week after South Korea’s justice minister announced that a bill is being prepared to ban all cryptocurrency trading in the country, citing concerns regarding virtual currencies. On Thursday the cryptocurrencies rose, rebounding from the declines.

Additionally, billionaire investor Warren Buffett, chairman and CEO of Berkshire Hathaway, recently warned that the recent craze over bitcoin and other cryptocurrencies won’t end well.

J.P. Morgan Chase Chairman and CEO Jamie Dimon has criticized bitcoin but recently backpedaled a bit from his earlier comments.

Comments

comments

Filed in: Mainstream Bitcoin Tags: ,

You might like:

Germany’s 2nd Largest Stock Exchange To Launch Zero-Fee Crypto Trading App Germany’s 2nd Largest Stock Exchange To Launch Zero-Fee Crypto Trading App
Bitcoin Mining To Use 0.5% Of World’s Energy By End Of 2018, Peer-Reviewed Research Shows Bitcoin Mining To Use 0.5% Of World’s Energy By End Of 2018, Peer-Reviewed Research Shows
JP Morgan Announces Prototype Blockchain Platform to Streamline Capital Markets Infrastructure JP Morgan Announces Prototype Blockchain Platform to Streamline Capital Markets Infrastructure
Cases Of Illegal Bitcoin And Cryptocurrency Mining: Chicken Farms And New York Cases Of Illegal Bitcoin And Cryptocurrency Mining: Chicken Farms And New York
Wall Street Journal Research Finds ‘Red Flags’ In 19% Of ICOs Wall Street Journal Research Finds ‘Red Flags’ In 19% Of ICOs
Bitcoin Price Fails To Accomplish Predicted Rally Following NYC Crypto Conference Bitcoin Price Fails To Accomplish Predicted Rally Following NYC Crypto Conference
Voting For Blockchain Industry Leaders Now Open on BlockShow’s Blockchain-Based Polling App Voting For Blockchain Industry Leaders Now Open on BlockShow’s Blockchain-Based Polling App
First New-York Based Crypto Trading Company Receives BitLicense First New-York Based Crypto Trading Company Receives BitLicense
© 9483 Virtual Mining Bitcoin News. All rights reserved. XHTML / CSS Valid.