{"id":9175,"date":"2023-05-15T22:47:46","date_gmt":"2023-05-16T02:47:46","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/bitcoin-has-a-problem-in-the-us-says-prominent-hedge-fund-manager-paul-tudor-jones\/"},"modified":"2023-05-15T22:47:47","modified_gmt":"2023-05-16T02:47:47","slug":"bitcoin-has-a-problem-in-the-us-says-prominent-hedge-fund-manager-paul-tudor-jones","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=9175","title":{"rendered":"Bitcoin Has a Problem in the US Says Prominent Hedge Fund Manager Paul Tudor Jones"},"content":{"rendered":"
\n

American billionaire hedge fund manager Paul Tudor Jones said bitcoin has a \u201creal problem\u201d due to unfriendly regulation in the US, in a recent interview<\/u> with CNBC.<\/p>\n

\u201cBitcoin has a real problem because in the United States, you have an entire regulatory apparatus against it,\u201d Jones said.\u00a0<\/p>\n

Appearing on CNBC\u2019s Squawk Box on Monday, the infamous trader spoke about his investments in bitcoin and said he planned to stick with it.\u00a0<\/p>\n

\u201cI\u2019m sticking with it,\u201d Jones said. \u201cI\u2019m going to always stick with it as just a small diversification of my portfolio.\u201d\u00a0<\/p>\n

At its height in November 2021, bitcoin was valued at close to $68,000 and has since fallen close to $27,000 as of Monday evening.<\/p>\n

US regulators\u2019 views on bitcoin<\/h2>\n

Securities and Exchange Commission Chair Gary Gensler has outwardly said that bitcoin is not a security, and in fact, everything but the longstanding crypto would be a security, he said in an interview with Intelligencer<\/u> in February.\u00a0<\/p>\n

Gensler has also said most cryptocurrencies are securities and therefore regulated by the SEC.\u00a0<\/p>\n

The distinction is important since the CFTC is tasked with overseeing futures, options and swaps, while the SEC is set up to regulate securities such as stocks.\u00a0<\/p>\n

Meanwhile, Commodity Futures Trading Commission Chair Rostin Behnam has asserted<\/u> that bitcoin is a commodity, so it would fall under his jurisdiction.\u00a0<\/p>\n

US lawmakers are working on bills to make a clearer divide between what cryptocurrencies would be securities or commodities.\u00a0<\/p>\n

Sens. Cynthia Lummis, R-Wyo., and Kirsten Gillibrand, D-N.Y. have plans this spring to introduce a revised version, first introduced last June, of the Responsible Innovation Act, according to Blockworks<\/u>.\u00a0<\/p>\n

In it, the pair delegated oversight of the most popular cryptocurrencies to the CFTC while addressing stablecoins and taxes.<\/p>\n

The lawmakers said the newer version will be more detailed when defining tokens and clarify definitions.<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

American billionaire hedge fund manager Paul Tudor Jones said bitcoin has a \u201creal problem\u201d due to unfriendly regulation in the US, in a recent interview with CNBC. \u201cBitcoin has a real problem because in the United States, you have an entire regulatory apparatus against it,\u201d Jones said.\u00a0 Appearing on CNBC\u2019s Squawk Box on Monday, the […]<\/p>\n","protected":false},"author":1,"featured_media":9176,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-9175","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nBitcoin Has a Problem in the US Says Prominent Hedge Fund Manager Paul Tudor Jones | iFintechWorld<\/title>\n<meta name=\"description\" content=\"American billionaire hedge fund manager Paul Tudor Jones said bitcoin has a \u201creal problem\u201d due to 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