Bitcoin No More A Bubble Says Brian Brooks
Earlier this evening Brian Brooks currently appointed as acting comptroller at OCC said in an interview that Bitcoin is beyond its so called bubble phase and institutional has already started.
Real Institutional Adoption has Already Started For Bitcoin
Brian Brooks is in favor of crypto adoption by banks and traditional finance institutions since beginning and today again he voices his belief that banks should work towards crypto adoption.
“What we do need is clarity about what is allowed, and so we need some guidance for example whether banks can connect directly to blockchains as payment networks–the answer has to be yes,” says @BrianBrooksOCC. #btc #bitcoin pic.twitter.com/yNOBqTZfIN
— Squawk Box (@SquawkCNBC) December 4, 2020
When asked about more crypto regulations, he said,
We don’t need 50 regulations instead of two, what we need is clarity on what is allowed.
He is very optimistic on banks implementing blockchains for payments and is convinced that soon we will see favorable crypto guidelines. He mentioned that in next few weeks or so there shall be clarity:
- For crypto investors how to invest in cryptocurrencies
- How institutions can enter this asset class
He said these are the two things that are driving the prices of bitcoin rather than just speculation.
To keep track of DeFi updates in real time, check out our DeFi news feed Here.