Bitcoin price spike fuels fresh demands for regulation

Bitcoin price spike fuels fresh demands for regulation

Muscat: As Bitcoin hits all-time price highs, regulation must now become a major priority for financial watchdogs, said the CEO of one of the world's largest independent financial advisory organisations. With the price of Bitcoin hitting a new record high, surging past $61, 000 on the deVere Crypto exchange earlier this for the first time this will fuel fresh demands for regulation, Nigel Green, chief executive and founder of deVere Group, said in an exclusive interview. Elaborating about the response of Gulf Cooperation Council (GCC) countries towards Elaborating about the response of Gulf Cooperation Council (GCC) countries towards Bitcoin he said that GCC countries have generally been supportive of Bitcoin and other cryptocurrencies. "Bahrain is one of the most proactive with its central bank recently awarding regulated licences to an exchange. Other countries, including the UAE and Oman, are currently less crypto-friendly but there are no restrictions on buying or selling either," he further added. However, as the region is forward-thinking, I can see it becoming a major crypto hub in the near future, he said. Explaining what a Bitcoin is and the reason for its growing popularity, Green said, "Bitcoin is the world's largest cryptocurrency by market capitalisation and