Jordan Belfort and US Senator are both in mind crypto regulation is necessary

Jordan Belfort supports the regulation of the crypto industry

“Wolf of Wall Street” insists that potential regulation measures do not harm the whole industry. A well-known former broker minds the appearance of regulators in crypto is a positive sign of further growth and development.

“The sooner that massive regulation comes into the market, the better it is for bitcoin, stablecoins, and everything else,” said Belfort.

In his mind, the regulation would positively affect crypto interest among institutional investors and would help BTC reaching legal savings status. Previously the broker said that regulators would destroy digital assets. The main reason for it is the common mind that digital assets are used for money laundering.

US Sen. Elizabeth Warren declares about crypto regulation and possible crisis in the whole industry

Elizabeth Warren mentioned her own warnings closely connected with potential threats for US financial markets, criticizing the crypto industry. According to her words, a relatively small market as a crypto market worth $1.5 trillion could be a serious threat for the bank system with its $25 trillion.

“As the demand for cryptocurrencies continues to grow and these assets become more embedded in our financial system, consumers, the environment, and our financial system are under growing threats,” she added.

The US Senator said the crypto industry is badly needed in strict regulative measures. The longer US would think over regulative measures, the possible way the digital assets would become closely connected with the financial system, so there could be serious consequences if the financial market faces a crisis.