Former US CTFC markets regulator Bart Chilton said that regulation could even-out crypto prices. Recently bitcoim slipped from $5,00 to around $3,600.
He wrote in an editorial, “There’s no questions – zero – that had digital currencies been regulated, I would have sought an investigation into the precipitous price changes we’ve witnessed.”
Chilton has long wanted some kind of framework to oversee cryptocurrencies. But in fact primary regulation is already in place. Primary regulation is after all market regulation. Secondary regulation is government regulation.
Primary regulation must take place before a security can trade. It makes a security tradeable. Secondary regulation is what people think as primary regulation, but it is not.
Chilton wants to impose secondary regulation, which is far more invasive that primary regulation. He believes that this will smooth out crypto prices. In fact, it must be a kind of price fix. And in the long-term price fixes never work.
