Nigel Green, the Chief Executive Officer and Founder of deVere Group, an independent financial advisory and fintech organisations has warned Bitcoin investors to brace up for more of government scrutiny.
The warning is coming as governments around the world are skeptical of cryptocurrencies, even as Coinbase, the biggest cryptocurrency platform in the U.S., prepares for its public debut.
“Governments, central banks and regulators will be keen to protect the current status quo. We should expect considerably higher levels of regulation in the crypto market. Indeed, I believe it is inevitable. However, Bitcoin investors shouldn’t be put off by the likelihood of greater government scrutiny,” Green said.
Coinbase will today launch its initial public offering (IPO) on the Nasdaq under the symbol COIN. Bitcoin, the world’s largest cryptocurrency by market capitalisation, hit all-time highs of $64,000 on the deVere Crypto app.