{"id":165178,"date":"2020-02-19T08:00:30","date_gmt":"2020-02-19T13:00:30","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=165178"},"modified":"2020-02-19T07:07:33","modified_gmt":"2020-02-19T12:07:33","slug":"bloombergs-cryptocurrency-policy-puts-him-on-the-right-side-of-financial-history","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/02\/bloombergs-cryptocurrency-policy-puts-him-on-the-right-side-of-financial-history\/","title":{"rendered":"Bloomberg\u2019s cryptocurrency policy puts him on the right side of financial history"},"content":{"rendered":"
February 19, 2020<\/div>
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By George Prior<\/strong><\/p>\n

Presidential candidate Michael Bloomberg\u2019s proactive cryptocurrency plans place him on the right side of financial history, affirms the CEO of one of the world\u2019s largest independent financial services and advisory organizations.<\/p>\n

The chief executive and founder of deVere Group is speaking out after the New York-based billionaire presidential hopeful proposed creating a regulatory framework for cryptocurrencies in a new financial regulation plan.<\/p>\n

The plan notes: \u201cCryptocurrencies have become an asset class worth hundreds of billions of dollars, yet regulatory oversight remains fragmented and undeveloped.\u201d<\/p>\n

Mr Green comments: \u201cMichael Bloomberg is, to date, the only candidate to become president of the world\u2019s largest economy who has devised a coherent plan for cryptocurrencies.<\/p>\n

\u201cThe staggering pace of the digitalization of economies and our professional and personal lives underlines that there will be \u2013 must be – growing demand for digital, global, borderless money.<\/p>

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\u201cIndeed, digital currencies are now almost universally regarded as the future of money.<\/p>\n

\u201cThis is why most central banks around the world \u2013 including the Federal Reserve – major financial institutions, tech giants, and multinationals are all getting involved.<\/p>\n

\u201cAs such, Bloomberg\u2019s proactive and progressive approach, which could be the first step to providing regulations to protect consumers and prevent illicit activity in the new age, must be championed.\u201d<\/p>\n

Nigel Green has long been a vocal advocate for cryptocurrency regulation.<\/p>\n

He notes: \u201cDigital currencies are already becoming mainstream and that means that they should adhere to the same standards as the rest of the financial system.<\/p>\n

\u201cRegulation is necessary as it will provide further protection for the growing number of people using cryptocurrencies, the less likely it will be that criminals will use these digital payment methods, the less potential risk there will be for the disruption of global financial stability, and the more potential opportunities there will be for higher economic growth and activity in those countries which introduce it.\u201d<\/p>\n

Last year, the deVere CEO criticised President Donald Trump who took to Twitter to say: \u201cI am not a fan of Bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.\u201d<\/p>\n

In response, Mr Green blasted: \u201cDoes the President seriously think that traditional, fiat currencies are the way forward?\u201d<\/p>\n

Nigel Green concludes: \u201cCryptocurrencies are redefining and reshaping the financial system. The Leader of the Free World needs to be ahead of the curve and on the right side of history on such a fundamental issue.\u201d<\/p>\n

About:<\/strong><\/p>\n

deVere Group is one of the world\u2019s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.\u00a0 It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement<\/p>\n

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By George Prior Presidential candidate Michael Bloomberg\u2019s proactive cryptocurrency plans place him on the right side of financial history, affirms the CEO of one of the world\u2019s largest independent financial services and advisory organizations. The chief executive and founder of deVere Group is speaking out after the New York-based billionaire presidential hopeful proposed creating a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-165178","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/165178","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=165178"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/165178\/revisions"}],"predecessor-version":[{"id":165179,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/165178\/revisions\/165179"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=165178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=165178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=165178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}