THELOGICALINDIAN - Comparing the development of cryptocurrencies to that of the Internet the Chairman of the US Commodity Futures Trading Commission CFTC J Christopher Giancarlo holds that regulators charge to abstain inhibiting the addition technology brings
Speaking to CNBC at the Singapore Summit September 14, CFTC Chairman J. Christopher Giancarlo aggregate his thoughts on cryptocurrency regulations and how it should be approached.
According to the official, cryptocurrencies charge to be absolute tolerantly. Giancarlo compared them to the Internet and acclaimed that the closing has managed to curl because the regulators didn’t footfall in heavily but rather activated a careful, “do no harm” approach.
The Chairman said:
However, Giancarlo additionally recognizes the risks of artifice and abetment and holds that alert additionally has to be acclimatized back it comes to policymaking:
Giancarlo’s position on cryptocurrency regulations echoes an assay that the Bitcoinist reported on afterward the arrangement of a new SEC commissioner, Elad Roisman, by President Trump. Roisman has declared that he favors an access that is “fair” and “transparent” appear the beginning cryptocurrency industry.
What’s more, the CFTC’s position on cryptocurrencies has historically been rather positive. Earlier in June, CFTC Commissioner Rostin Benham noted that cryptocurrencies are “here to stay.”
“[V]irtual currencies may – will – become allotment of the bread-and-butter practices of any country, anywhere,” Benham said. “Let me echo that: these currencies are not activity abroad and they will breed to every abridgement and every allotment of the planet.”
Giancarlo himself outlined that Bitcoin [coin_price] is ill-fitted for “long-term buy and authority strategy.”
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