Bitcoin, Crypto currency, Blockchain

Consensus 18 day 2: regulation, the Blockchain and the Bitcoin price

Also on the second day of the Consensus crypto-currencies and Blockchain technology have been paid homage to in New York. Just on the subject of regulation, there are increasingly critical voices. The price of Bitcoin does not receive the recovery that was promised by the crypto conference.

In the run-up to the event, the expectation was stoked attitude that the Bitcoin would increase rates in the next few days – as a response to the largest crypto-to-event in the world. Traditionally, the conference will not only increase the attention for the world’s leading Cryptocurrency, but also brings a number of groundbreaking decisions. Compared with the beginning of the week, the Bitcoin price fell by almost ten per cent of the whole of the rest of the crypto market behaves in a similar way.

Deloitte relies on the Blockchain

The Tuesday began with an announcement of the audit Deloitte, one of the “Big Four”. The present representatives Linda Pawczuk and Rob Massey spoke about the role of the Blockchain in their area of business. They presented a study, according to which 74 percent of the world’s largest companies, an adaptation of the Blockchain could imagine. For the study, 1,000 firms were surveyed with an annual turnover of at least US $ 500 million from the United States, China, the United Kingdom, Germany, France, Canada, and Mexico.

The SEC and CFTC take the position

With the voltage at the end of the morning session was the appearance of the representatives of the US regulators, the SEC and CFTC was expected. CFTC Enforcement Director James McDonald and SEC Enforcement Division Chief Robert Cohen met Kiran Raj, Chief Strategy Officer of the crypto Exchange Bittrex. In this case, both representatives of the authorities expressed their will, the crypto scene is not too hard to tackle.

Both of them claimed to speak only for themselves and not for their respective authorities. They were, however, agreed that you do not want to hinder Innovation or the Blockchain-development do not unnecessarily disturb you. Nevertheless, you need to take action against fraudsters and Criminals in this area. Both reaffirmed their agencies would have the Token “Open-Door Policies” for those trying to start Sales.

Criticism of the Start-up page

Criticism came from the other side. In a debate on regulation and the location of New York in Particular, Eric Voorhees of ShapeShift and Jesse Powell of the Exchange met the Kraken. Voorhees criticized the BitLicense approach of the state of New York as to be plated. Both companies give excessive regulation to blame, to have their transactions completed in New York. Powell pointed to the tension between money laundering provisions and the protection of the privacy of the customers. In the case of the BitLicense I have to give more Kraken, “all of the information on our entire global customer base in the state of New York”.

Even after the end of the second day, it is still a great breakthrough theme, which is dealing with the crypto-scene in the next few weeks and months.

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