The President and CEO of the CME Group believes that the financial regulators are more likely to endorse the digital currency provided with Fiat money than the classic cryptocurrency such as bitcoin. This opinion Terry Duffy (Terry Duffy) expressed in an interview with Business Insider.
The approval of regulators essential for the further development of kryptonyte. But, according to Duffy, it is difficult to imagine “green light” for bitcoin and similar assets by government bodies, as cryptocurrency is not allowed to run deficits.
The head of the world’s largest derivatives market also noted that too much of the narrative surrounding the current cryptoprocessor due to speculation on price rather than implementation and real use cases.
“Once you have their use, price will take care of herself. But the dispute is only about the price of, say, bitcoins or any other cryptocurrency. No one talks about, “How can I use this asset?”, — said the head of CME Group.
More optimistic Duffy in respect of digital assets with Fiat support, such as JP Coin or other stabilini because they are much more comfortable for regulators than cryptocurrency.
“You’re going to have to have a proposal that should satisfy regulators. And I think it is difficult to endorse something that is so new like that,” he said.
In addition, according to Duffy, the digitized versions of existing currencies will enable you to take advantage of the use of cryptocurrencies, without a single of their perceived shortcomings.
We will remind, earlier the General Director of CME Group claimed that the key to success of crypto-currencies linked with governments. However, he believes that bitcoin can grow to $8000.