The founder of Onchain Capital, and host of CNBC Africa’s ‘Crypto Trader’ show, Ran Neu-Ner, recently discussed his outlook for cryptocurrency regulation, initial coin offering (ICOs), and shared his outlook for several top cryptocurrencies markets. Mr. Neu-Ner described Bitcoin Cash and Ethereum as markets that he intends to ‘HODL’, adding that right now, he is passing on BTC in favor of more “exciting” virtual currency markets.
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Onchain Capital Founder Warns That Lack of Regulations May Stifle Entire Cryptocurrency Industry
In an interview with CNBC‘s Fast Money, Mr. Neu-Ner described the United States Securities and Exchange Commission (SEC) as having taken an appropriate position in cautiously monitoring the cryptocurrency markets up until now, however, warned that a failure to introduce clear regulatory apparatus pertaining to virtual currencies may be to the severe detriment of the United States’ burgeoning cryptocurrency industry.
“I think the initiative by the SEC was a great one, but I think the joke is on the SEC now because they need to come up with regulation now, if they don’t come up with regulation, they may stifle an entire industry,” he said.
Mr. Neu-Ner added: “Now I know they are balancing investor protection with the need to grow an industry, but if you look to places like Japan and Singapore, they’ve got thriving ICOs, and they’ve got a thriving new industry, and my fear, having travelled extensively to that region, and spoken to all the founders and the legislators there, is that the US actually may be falling behind, and that we may not get a silicon valley here in the USA, because it may all fall into the legislations that are favourable towards
