• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Nexo Logo

Jerry Brito Explains BTC Potential to New Jersey BTC Legislators

Yashu Gola by Yashu Gola
8 years ago
in Cryptocurrency news
Reading Time: 2 mins read
Advertisement

Coin Center’s Executive Director Jerry Brito (on right) was among the nine participants who addressed the New Jersey Legislature’s Financial Institutions on questions related to Bitcoin. In the end, the Bitcoin lobbyist unquestionably made some progress when it came to informing lawmakers about the cryptocurrency and its wider applications in the world.

new_headshot_111101

The aforesaid hearing was held to ensure the protection of Bitcoin consumers, especially in times when the market has just suffered a price crash and a few highly publicized hacking incidents. Legislators, during the entire Q&A round, were more focused on the risks and volatility of Bitcoin, ignoring other pending topics related to drugs, money laundering and terrorism.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Brito took this opportunity to describe Bitcoin in a detailed manner, leaving no stone un-turned when trying to get Bitcoin into legislators’ good books. For instance, he carefully constructed his response to questions on Bitcoin’s volatility, blaming it on the low liquidity of the market. He further expressed his and others’ concerns about the lack of proper hedging instruments, and a central regulator to maintain stability.

However, in the same statement, he cleared the air and repeated that it is unlikely for Bitcoin to be as stable as a normal fiat currency, but it still might attain price movements like that of Gold.

On Bitcoin Price Manipulation

One of the legislators took some time before interrupting Brito with another question: “What caused the spike?,” he asked. “What caused the steady decline over the past year? And were consumers — is ‘screwed’ an appropriate word?”

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Brito, in his response, acknowledged the era when Bitcoin was hyped just like those Dotcom companies and domain names during the early days of internet. However, he also described the average Bitcoin consumer as “sophisticated,” unlike a typical stock trader who will cry the moment when market falls. He highlighted the need of “good disclosures” so that consumers could have a proper idea about a trade before entering it.

“Finally, I would say that you can use bitcoin without being exposed to the volatility,” he concluded.

What’s Next in New Jersey Bitcoin Regulation?

It is quite evident that New Jersey bitcoin legislation is open for a constructive and driven-worthy debate. Such meetings we are hopeful will continue over time, and in best case, we might even see a Bitcoin-Friendly environment in the respective jurisdiction.

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.

Image Credits: NJ Legislator Office and Twitter.

Tags: bitcoinBitcoin regulation New JerseycryptocurrencyJerry BritoNew Jersey Legislature's Financial InstitutionsNews
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN. Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Related Posts

Polkadot

Polkadot (DOT) To Retest $9.88 Resistance – Can Bulls Regain Solid Footing?

6 hours ago
Filecoin

Filecoin Cruises Near Resistance, Now Attempts For A Breakout

8 hours ago
Ethereum Market Observes Pileup Of Leverage As ETH Breaks $2k

Ethereum Market Observes Pileup Of Leverage As ETH Breaks $2k

17 hours ago
Ethereum Price

Ethereum Sees Setback After Breaking $2k, But Price Likely to Maintain Upward Trajectory

21 hours ago
Decentraland

Decentraland Consolidates Near $1.05 – Can MANA Attract Buyers Now?

21 hours ago
Shiba Inu

Shiba Inu (SHIB) Buildup At This Price Level Could Be Favorable

24 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

GNOX (GNOX): Likely Top 50 Crypto Similar To EOS (EOS) And Sandbox (SAND) After Presale Sold-Out Quickly

August 14, 2022

Gnox (GNOX), Sandbox (SAND) and Decentraland (MANA): The Most Promising Investments in 2022

August 14, 2022

HypaSwap, Bitcoin, and Solana – Crypto Crash 2022 Buy For Massive Bull Run Profits!

August 14, 2022

How Eco-Friendly Is Crypto? A Look At Proprivex, Ethereum, and Bitcoin

August 14, 2022

Earn Rewards From Quilvius Using Bitcoin

August 13, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Bitcoin Casino Reviews

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.