Bitcoin won’t displace stocks, exchange trading: NYSE Chair Cunningham

New York stock exchange president Stacey Cunningham wants to stay in NYC

New York Stock Exchange President Stacey Cunningham on whether the NYSE would leave NYC. 

While cryptocurrency is emerging as a more formidable investment asset, equities and the platforms and exchanges they trade on remain in the lead. 

"The way Bitcoin works today and the blockchain technology underneath it is not the same. It couldn't process the three hundred and thirty billion messages we processed on a busy day here at the New York Stock Exchange. So I don't expect it to be displacing us," New York Stock Exchange Chairwoman Stacey Cunningham said during an interview on FOX Business' "Cavuto Coast to Coast." 

IRS PROPOSES TAXING CRYPTO CURRENCIES

TickerSecurityLastChangeChange %
ICEINTERCONTINENTAL EXCHANGE, INC.112.59+0.55+0.49%
NDAQNASDAQ OMX GROUP INC167.33+1.35+0.81%

"I certainly think, though, that it is something that's going to continue to grow. It's not over. But I also expect the regulators and the government to take a look at it and view whether or not there are appropriate guardrails on it," Cunningham continued.

BITCOIN ETFS TO GET FRESH EYE UNDER SEC'S GENSLER

Securities and Exchange Commission Chair Gary Gensler has indicated he supports the world of cryptocurrencies but has vowed to enforce investor protections of which there are currently little to none for this asset class. 

TickerSecurityLastChangeChange %
COINCOINBASE GLOBAL240.77-6.32-2.56%
BITQEXCHANGE TRADED CONCEPTS TRUST BITWISE CRYPTO INNOVATORS E22.57-0.72-3.11%

JANET YELLEN PITCHES $13B IRS BUDGET INCREASE

Bitcoin, cryptocurrency regulation OK if ‘sensible’: Brock Pierce

Bitcoin Foundation chairman Brock Pierce argues cryptocurrency regulation by the U.S. Treasury Department won’t affect the market if the rules are ‘sensible.’

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Bitcoin, which hit an all-time high of $64,829 earlier this year, has taken a beating this week, dropping to the $36,000 level.

 This comes as U.S. stocks march closer to reclaiming record highs. 

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