American TV host Jim Cramer believes that cryptocurrencies need more regulation or the market could crash.

Additionally, Cramer praised Ethereum as the best performing digital asset.

Regulation can prevent the market from crashing:

In a recent interview withThe StreetCramer revealed that he is a staunch supporter of regulating the cryptocurrency market.

In his opinion, setting the right rules in the industry will be beneficial to the entire market because these systems will keep it stable, he added:

If you had more regulation, all trading platforms would be like banks…of course nobody wants them to be like banks…but we need some sort of regulation because I feel like cryptocurrencies will collapse if we are not careful.

Read:The cryptocurrency market loses more than 20 billion dollars in a day

He also noted that appropriate legislation is necessary for the digital stablecoin Tether as well.

Cramer compared the stablecoin to a kind of exchange and urged its management to explain the essence of the operations and what they have.

He stated that Tethers are no longer allowed to trade among New Yorkers.

At the same time, Cramer criticized the officials’ decision to impose a fine of $18.5 million on Tether executives, saying it was too low.

Talking about the recent rally in the price of Bitcoin, the TV presenter saw that the bigger cryptocurrency had successfully weathered the previous difficult months, and is now poised for a bullish future.

Kramer also argued that Ethereum is better than Bitcoin.

He even admitted his Ethereum possessions, stating:

I have a very big position in Ethereum.

I am happy today.

I switched from bitcoin to ethereum.

Investors turn to Ethereum:

At the end of June, Jim Cramer told that he had changed his preferences from Bitcoin to Ethereum, due to concerns that the Chinese authorities might increase pressure on the underlying cryptocurrency, and commented on this:

Read:How do stablecoin projects generate profits?

The Chinese government has spoken out and says they don’t like Bitcoin.

Read:Learn about the possible reasons behind the rise of Bitcoin above the 47 thousand dollar level

So I stick with Ethereum. It doesn’t look like they’re going to attack Ethereum now… I just feel like Ethereum can escape the clutches of China…

Additionally, Cramer notes that Ethereum is a better asset, as people can use it as a payment method for more things like NFT tokens.

When asked if he would agree to receive his salary in bitcoin, Kramer replied:

Yes, I definitely will!

I think it’s a strong property.

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