Brokers adhering to a list of mandated rules are authorized to provide investment activities in a given jurisdiction. Regulators also serve as a countermeasure against market abuse and malpractice by brokers. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority (FCA), the US’ Securities and Exchange Commission (SEC), Australian Security and Investment Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC) are the most widely dealt with authorities in the FX industry.In its most basic sense, regulators help ensure the filing of reports and transmission of data to help police and monitor activity by brokers. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Still, Prince believes that BTC’s path forward may not be without its obstacles, specifically pointing to the possibility of “overbearing Regulation Additionally, he predicted that it will be less than six months before Bitcoin reaches above $25,000. Zac Prince, Chief Executive of crypto lending company, BlockFi, recently told Finance Magnates that he foresees Bitcoin headed somewhere between “$50K and $100K” by the end of 2021. With or without Elon Musk, though, many believe that Bitcoin is on its way up. Perhaps is willing to moderate.- Peter Schiff DecemBitcoin Could Be over $200k by 2025, but There Are Some Obstacles on the Way But I'm still willing to debate on #Bitcoin verse #gold. So I don't need to convince the board not to turn Tesla into a double bubble. It seems like was only joking about exposing Tesla shareholders to Bitcoin. He later added that “there is 5% chance of it happening as of now.” “Elon Is Singlehandedly Going to Send Bitcoin to $25k.”Įven though Musk was apparently joking about any serious interest in Bitcoin, Crypto Twitter has been abuzz with the possibility of Tesla buying into BTC: “The internet will break if Elon Musk converts any of Tesla’s balance sheet into Bitcoin,” Tweeted investor and renowned Bitcoin advocate Anthony Pompliano. Several hours after the original 'safe word' tweet, Musk tweeted, “just Kidding, who needs a safe word anyway.”Īfter his conversation with Saylor, Finance Magnates reported that Musk went on to criticize BTC and said that it was " almost as bs as fiat money." Previously, in 2019, Musk shut down rumors about Tesla getting involved in Bitcoin. However, Musk later seemed to let on that he was not serious about his interest in Bitcoin. Elon Musk (via Frederic J Brown/AFP via Getty Images)
I have purchased over $1.3 billion in #BTC in past months & would be happy to share my playbook with you offline.,” Saylor replied.