Former FDIC Chair Sheila Bai Urges Congress to Step Up on Cryptocurrency Regulations

Former FDIC chair Sheila Bai has recently weighed in on the current state of the cryptocurrency market and Blockchain during her recent interview with Yahoo! Finance

Thu, 20/09/2018 - 16:49

Former FDIC Chair Sheila Bai Urges Congress to Step Up on Cryptocurrency Regulations

Cover image via U.Today

Read U.TODAY on

Google News

Former FDIC chair Sheila Bai has recently weighed in on the current state of the cryptocurrency market and Blockchain during her recent interview with Yahoo! Finance. According to Bai, cryptocurrencies represent a legitimate new asset class, but some of them might not be particularly valuable. Hence, she urges investors to be extremely cautious. She also states that the general public has to distinguish digital assets from Blockchain technology.

Bai is certain that the US Congress should design a federal regulatory framework for marketing and trading cryptocurrencies. She explains that these regulations should focus on preventing money laundering and market manipulations.

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.