Cryptocurrency regulation should ‘do no harm’ says CFTC chef

Cryptocurrency North America Regulations United States

J. Christopher Giancarlo, the chief of the Commodity Futures Trading Commission (CFTC) said in a written statement for the Senate Banking Committee “Do No Harm” is the correct approach to the distributed ledger technology. According to Giancarlo, those new technologies will help grow US economy as they evolve, if supported with legal oversight.

The statement noted that the regulators cannot afford to ignore innovation in the financial market’s “new digital era” and in the face of a “paradigm shift” in the world’s perception of financial processes that cryptocurrencies have brought.

Giancarlo then continued to say that the CFTC, along with SEC, will continue their fight against cryptocurrency fraud and listed some examples of the commission’s efforts in that field.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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