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CFTC Chief Touts Cryptos Merits in US Senate Committee Hearing
Episode #7
Although many negative things can be -- and often are -- said about the current state of the cryptocurrency ecosystem, Christopher Giancarlo Chief of the CFTC, a financial regulatory body in the US, brought a much needed, forward-thinking perspective to a discussion largely dominated by out of touch baby boomers.
In today's testimony, which could be viewed live on the internet, Giancarlo highlighted the fact that when transactions happen on a public blockchain, they are transparent, making the job of investigating any instances of wrongdoing that much easier.
This is in comparison to the incredible time, effort, and US tax payer money, that went into sorting through the vast mess of unscrupulous -- and frankly illegal -- behavior of some Wall Street banks and their executives leading up the the financial crisis of 2008.
Giancarlo even referenced his own niece who invests in cryptocurrency and has opted to "hodl."
Read the official testimony from the US Senate here:
https://www.banking.senate.gov/public/index.cfm/hearings?ID=D8EC44B1-F141-4778-A042-584E0F3B9D39
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By Bitcoin, Crypto, Digital Currency, Blockchain, ICO, NewsEpisode #7
Although many negative things can be -- and often are -- said about the current state of the cryptocurrency ecosystem, Christopher Giancarlo Chief of the CFTC, a financial regulatory body in the US, brought a much needed, forward-thinking perspective to a discussion largely dominated by out of touch baby boomers.
In today's testimony, which could be viewed live on the internet, Giancarlo highlighted the fact that when transactions happen on a public blockchain, they are transparent, making the job of investigating any instances of wrongdoing that much easier.
This is in comparison to the incredible time, effort, and US tax payer money, that went into sorting through the vast mess of unscrupulous -- and frankly illegal -- behavior of some Wall Street banks and their executives leading up the the financial crisis of 2008.
Giancarlo even referenced his own niece who invests in cryptocurrency and has opted to "hodl."
Read the official testimony from the US Senate here:
https://www.banking.senate.gov/public/index.cfm/hearings?ID=D8EC44B1-F141-4778-A042-584E0F3B9D39