TD Ameritrade reports crypto interest growing! Digital currencies and cryptocurrencies are gaining interest from investors and traders.
The Street broke the news on July 23rd, with an interview with the CEO of TD Ameritrade.
In the interview with The Street, Tim Hockey, the CEO of TD Ameritrade, explained that customers are showing increasing demand for cryptocurrencies and willingness to trade them.
Active investors, he noted, do not worry about the potential of crypto currencies disrupting and undermining the existing financial systems. Investors are merely looking for new asset classes to profit from. This differs from American Lawmakers, who do fear the undermining the financial system via bitcoin. He noted:
“Especially given the discussions around Libra and the rebound in Bitcoin, there’s heightened interest again.”
Last week, the IMF called upon regulators throughout the world to pay attention to Libra and make sure there’s proper regulation.
Major risks associated with the Facebook-backed stablecoin includes date privacy, consumer protection, as well as what’s being described as backdoor dollarization.
There is intense debate in the US House of Representatives regarding the effects of cryptocurrency. The Trump Administration has been clamping down on Cryptocurrency, and Trump himself does not trust Cryptocurrency. What do you think? Let us know on our Facebook Page!
