At hearings in the US Senate the fundamental cost of bitcoin was discussed
In addition to the decision on state regulation of the cryptoindustry, during the hearings held recently in the US Senate, the question of the basis for the cost of cryptocurrency and the expediency of mining as a whole was also raised.
The Securities and Exchange Commission of the United States (SEC) and the Commission for Urgent Exchange Trading (CFTC) denied the speculation that bitcoin is not backed up. One of the arguments was that the cost of the miners is the foundation of the value of the crypto currency.
Even if there was concern about the fact that bitcoinis both a means of accumulating and preserving value, and the subject of speculation, the SEC chief Jay Clayton said that there are no reasons for prohibiting transactions with virtual money. Supervisory authorities should, on the contrary, provide support to the market and protect investors.
In turn, Christopher Giancarlo, the chairman of the CFTC, said that the instability of the courses and the manipulation of prices are not peculiar to the crypto industry, but are inherent in absolutely any market.