Bitcoin futures remind one specialist of the risky products that caused the financial crisis

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road– a situation he thinks might repeat itself if they’re not careful.Lastly, Saluzzi is stressed that the CME’s decision to offer bitcoin futures will catalyze approval for proposed bitcoin ETF, which are currently being delayed for approval by the SEC. If the SEC provides bitcoin ETFs the consent, he fears that would offer an irreversible seal of approval for a dangerous asset. He even reached to call that possible outcome”irresponsible and harmful”in a current post. Here are Saluzzi’s ideas on the SEC quandary(emphasis ours ):”The SEC did the best thing at first, and they withstood pressures from the market around the ETF, which will be a treasure trove. If the CFTC approve the futures, the advocates of the ETF will return to the SECand state they have precedent. They’ll argue that they’ve created a genuine market. And I have a sensation that the SEC might be swayed. Before you know it, there will be many ETFs, and they’ll all be based on underlying exchanges that aren’t legitimate. And pretty soon these things will be buried up until now into portfolios and no one will know where they are, till they explode. And it’ll be because nobodydid the due diligence into the underlying exchanges. This is not conspiracy theory. This is fact.”SEE ALSO: Some of the biggest trading companies in the world are participating the bitcoin company Join the conversation about this story “NOW VIEW: Here are your opportunities of winning at popular gambling establishment games Bitcoin

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