Vice President Of Policy At Chamber Of Digital Commerce Cody Carbone Says In Absence Of Legislation; Courts Forced To Act
Portfolio Pulse from Benzinga Newsdesk
Cody Carbone, the Vice President of Policy at the Chamber of Digital Commerce, highlighted the lack of legislation in the digital currency space, which has led to courts having to take action due to this legislative void.
November 14, 2023 | 3:08 pm
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NEGATIVE IMPACT
The absence of clear legislation for digital currencies like Bitcoin may lead to increased legal uncertainties and volatility in the short term.
Cody Carbone's statement suggests that the current legislative gap may result in courts making decisions that could affect the regulatory landscape for Bitcoin, potentially leading to uncertainty and negative price impact in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Ethereum could face similar short-term negative impacts as Bitcoin due to the lack of specific legislation and the resulting reliance on court rulings.
The comments made by Cody Carbone imply that Ethereum, like Bitcoin, could be subject to the same legal and regulatory uncertainties, which might lead to short-term negative price movements.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70