The head of the CFTC: the regulators should be more “forgiving” to the cryptocurrency sector for its development
The head of the Commission on trade commodity futures U.S. (CFTC) and Christopher Giancarlo, in an interview at the annual summit in Singapore, said that cryptocurrencies need a softer approach from the regulators.
Giancarlo said that he took the precedent from the first days of the Internet, which, according to him, was able to grow and expand with minimal government intervention.
“I advocate the same approach to cryptocurrency and everything associated with this new digital revolution of markets, currencies and asset classes”.
However, he singled out a short-term approach of the CFTC against illegal activity on the cryptocurrency markets and more long-term and potentially important solution to the Agency’s policy development for the growing industry:
“When it comes to fraud and manipulation, we need to be strong. When it comes to policy development, I think we should act slowly and deliberately to be well informed”.