Bart Chilton believes that Bitcoin needs regulation

In the past few weeks, Bitcoin has shown that his volatility is very high. After the price rose to a record level of $ 5,000, its value fell below $ 3,000, and then stabilized at $ 4,000. These events signal that Bitcoin needs to be regulated.

This opinion was expressed by the former chairman of the Commodity Futures Trading Commission (CFTC) Bart Chilton in an article published by CNBC. The CFTC is a financial market regulatory agency that oversees the derivatives markets in the country.

Bart Chilton noted that Bitcoin has a "big dead point", in which he can get in the absence of regulation. The recent actions of the Chinese government confirm the need to manage these processes.

Further, the former chairman said that the Bitcoin community needed a management center that would change the direction of Bitcoin's development from full decentralization to regulation.

In this regard, Bart Chilton said the following:

"Instead of waiting for governments to take a number of measures to prevent the development of digital currencies, it is necessary to focus on the organization of regulatory control over new technology."

However, the prospect of regulation is contrary to the fundamental idea of ​​Bitcoin and other crypto-currencies. It consists in creating a digital currency that is not subject to public administration.