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CFTC Chairmen Chris Giancarlo Is A Top Dad & He Loves Bitcoin

On The Advice Of His Teenage Children, Giancarlo Pitches Crypto

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By Spencer Kellogg | United States

In a positive turn for the reeling crypto market that has seen a plunge in value recently, CFTC Chairman and Trump appointee Chris Giancarlo advocated for the vision and free movement of emerging and volatile cryptocurrency markets. His words were delivered to the Senate Banking Committee on Tuesday amidst panic regarding the volatility of prices and the unregulated nature of the market. Both Giancarlo and leading members of the SEC confirmed that they will not pursue further regulation of already operating cryptocurrency exchanges easing the fear of speculators and businesses alike after weeks of bad news.

By the look of his Twitter profile here you might mistake Giancarlo as an old timer out of touch with the younger generation. His love of “banjo picking” and ownership of a “73 Buick convertible” might have you imagining another dusty old republican with his corporatist head shoved so far up his rear end that he couldn’t tell you the difference between the worthless dollar bill and the rotting corpse of a dollar bill. But you’d be wrong.

He’s a top dad and he’s here to save Bitcoin:

Before a political jury of government goons and lobbyists, Giancarlo was honest and thoughtful: “We owe it to this new generation to respect their interest in this new technology with a thoughtful regulatory approach.”

In his statement, Giancarlo told the tidy of how his own interest and support for crypto was born out of discussions he had with his three college-aged kids who have been participating in the crypto market for the last year. He went on to point out the need for regulation against dangerous actors in the space who seek to scam investors. Further tantalizing the ears of speculators was Giancarlo’s use of the crypto vocabulary “HODL”

Twitter was awash with jubilation:

Others suggested that the CFTC Chairmen could be a potential presidential candidate for the most advanced crypto asset society in the world, South Korea:

Other interesting notes from the committee meeting included the suggestion that government scientists and researchers have already been put to work to better understand the blockchain and its uses going for. The major issue in the space at the moment seems to be unregulated ICO’s that make off with millions of dollars while their investors can be left on the hook with major losses.

The fact that this committee is doing the proper research and listening with open ears should be a welcome gesture of faith to the American crypto community. Markets perked up after the comments with the confirmation that key figures in our economic community believe that blockchain technology and virtual assets are here to stay.

One of the highlights of Giancarlo speech was his technical understanding of the underlining technology and its use going forward in our day-to-day business economy.

“If there were no bitcoin, there would be no distributed ledger technology.”

You’re damn right Mr. Giancarlo.


Image from Wall Street Journal.

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