Over the years some countries have made cryptocurrencies like Bitcoin and Ethereum their official state-sanctioned currency. However, many Americans remain skeptical of cryptocurrencies. What concerns many people about digital currency is that there isn’t enough information widely known by the public. Neither is it clear what protections consumers have to prevent unauthorized transactions from being made on their accounts.
Jamie Dimon, the CEO of JPMorgan Chase, said Bitcoin is “ worthless” and is “ A little bit of fools gold.”
Brian Brooks, Bitfury’s CEO, testified at a congressional hearing about cryptocurrency regulation. Brooks stated America is behind other nations in the field of digital investment products innovation. Brooks expressed that current regulatory bodies like the FDIC, CFTC and the SEC are sufficiently empowered with enforcement authority in order to keep the economy safe.
