In light of the recent negative comments from Warren Buffet regarding cryptocurrency, Bob Loukas, the founder of Bitcoin.Live, believes the comments arise from lack of regulation and how it is a crucial next step to progress cryptocurrency to the next level.
He said: “What the cryptocurrency markets and the billions of capital waiting to enter this space are craving most here, is some certainty when it comes to regulation. Warren Buffett’s comments about cryptocurrency rise from lack of regulation, not from the market itself. Firms and venture capital fear the unknown of what is coming and whom they will be held accountable too, and this is stopping them from making longer term commitments.
“Cryptocurrency continues to grow even when progress has been hampered by this cloud of uncertainty and any movement towards providing clarity with regards to regulation is something I am personally excited about.
“On the flip side, regulations need to be implemented as soon as possible. Without clarity, we will find that talented and job creating firms will quickly move offshore to countries where the regulatory environment is well-defined and obviously crypto friendly.”