Bitcoin miner rates regulations as positive

Peter Wall, an American miner at Bitcoin, calls the regulations positive for crypto, since they encourage its adoption.

During an interview with Bloomberg TV, Bitcoin miner Peter Wall describes the regulations as necessary for the crypto universe. In this way, he explains, by being under the protection of the regulators, crypto currencies can generate more trust among those who have not yet adopted them.

It must be taken into account that regulations in the crypto sector are just taking their first steps. Despite this, they seem to be taking flight due to the concern caused by the recent volatility of crypto currencies, mainly Bitcoin.

The fact that the Wall miner doesn’t reject, but rather qualifies the regulations as positive for Bitcoin Future, is atypical. In general, people in the business of extracting digital coins are hostile and some of them qualify the regulations with strong adjectives.

It could be said that as the meteoric growth of digital currencies increases, so does the interest of regulators. The curious thing about Wall’s case, highlighted by Yahoo Finance, is that this miner considers the regulations as beneficial for cryptomonies.

Bitcoin Whale sees regulators as a threat

What’s so special about a Bitcoin miner approving regulations?

Thus, regulators are seen by the mining industry as centralized agents antagonistic to financial freedom. In that sense, the relationship between the two could be seen as difficult. The latter should be highlighted because regulators don’t feel much sympathy for Bitcoin.

A clear case of the latter was the statement of the FCA in the United Kingdom. This regulatory body warned that those who invested money in cryptomonies risked losing everything. It also prohibited the sale of crypto assets to retail investors.

That said, it is all the more important that Bitcoin miner Peter Wall considers the regulations necessary, which he describes as beneficial. This is all the more so since the US SEC refused to launch an ETF for VanExk ASociates Corp.

The volatility of Bitcoin has been one of the factors that alarms the regulators, however, miner Peter Wall qualifies the latter as beneficial for cryptomonies. Source: Yahoo FinanceThe volatility of Bitcoin has been one of the factors that alarms the regulators, however, miner Peter Wall qualifies the latter as beneficial for cryptomonies. Source: Yahoo Finance Yahoo Finance

Mike Novogratz expects open-minded regulators

Why are regulations important according to Wall?

For Wall, the fact that central banks are looking to launch their own versions of digital currencies is a big step forward. Also, if the effort to regulate crypto-currencies is successful, Bitcoin and its users may no longer be seen as pariahs of the financial world.

This Bitcoin miner has a company dedicated to the extraction of crypto coins, which has taken advantage of the bull run. It’s Argo Blockchain Plc, which last year was valued at 34 million and now exceeds 300 million dollars. This is a growth of 1,400%.

It should be remembered that last year the crypt currency remained close to $10,000 per unit, with periods of very low volatility. Since then, the price of Bitcoin has reached limits close to $42,000.

In that stretch, important investors such as Paul Tudor Jones invested and, in a short period of time, saw great profits. Jones, in an interview, compared the investment in Bitcoin to the investment in Apple in its early days.

Data to take into consideration

Regulators and Bitcoin don’t trust each other because of the conflicting interests between the two.
The FCA in England, for example, warned investors that they were at risk of losing all their money if they bet on Bitcoin.
However, Bitcoin miner Peter Wall calls the regulations essential to the development of digital currencies.
He claims that users who are covered by the regulators would be more confident in using cryptosystems.