Member of the British Parliament Stephen Hammond joined the advisory committee of the new cryptocurrency market focusing on retail investors. Its purpose is to provide advice on government relations. Hammond is also a member of the Tax Commission, where he is responsible for governmental financial supervision and regulations. The stock exchange, called IronX, is a regulated platform that was jointly set up by the digital trading company IronFX and EmurgoHK, the creators of the ninth-largest cryptocurrencies, Cardano. The platform says that it intends to introduce cryptographic trade into the mass retail market.
Hammond was a Member of the Parliament in the Wimbledon district of London since 2005 and worked in the financial markets for twenty years before starting his political career. "We are all on a steep learning curve if we want to understand this new asset class. The only path leading to the fact that cryptocurrencies have gained trust and acceptance in a traditional business environment leads through regulations [...] This applies to governments, politicians, regulators and the financial services industry. Governments can not afford to be ambiguous in their position and must engage in the industry" - said Hammond.
Let's now take a look at the Bitcoin technical picture at the H4 time frame. The market is currently trading close to the technical resistance zone at the levels of $6,433 - $6,455 after a big up candle was made. Despite this bullish move, the price is still inside of the consolidation zone. The technical support is seen at the level of $6,233 and this is the lower boundary of the consolidation zone.
