Christopher Giancarlo, the Chairman of the Commodity Futures Trading Commission (CFTC) believes that cryptocurrencies pose a lot of potentials, especially in the countries facing an economic crisis and devaluating fiat. While noting that it would not challenge hard currencies like the US Dollar in any meaningful way.
Giancarlo expressed his belief that the virtual assets are here to stay, in an interview with of CNBC’s Fast Money. He points out toward the proactive measures that the regulatory bodies are taking to avoid fraud and violations and adds that the U.S. must adopt a more thoughtful approach in relation to various aspects of the eco-system.
#Bitcoin is a commodity, but how do you characterize the rest? @giancarloCFTC, the man in charge of #crypto regulation, goes on the record. pic.twitter.com/hn2B1UOnGH— CNBC’s Fast Money (@CNBCFastMoney) October 1, 2018
