Former CFTC Commissioner States Obama “Should Heed the Call” on Bitcoin
Former commissioner on the Commodity Futures Trading Commission advised Obama in an op-ed on CNBC today to take a reasonable approach to digital currency and blockchain technology, one that fosters innovation. Bitcoin and blockchain regulation has been a hot topic at conferences and on the nascent technology’s online forums. Bitcoin, known for its anarchist and libertarian leanings, fear government legislators and regulators. Many episodes have tarnished bitcoins name, as well; namely, the Silk Road and Mt. Gox affairs. These have led to everyday people, and regulators, to associate the....
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The Obama administration should move quickly to embrace bitcoin and blockchain technology, a former government regulator has argued in a new op-ed. Writing for CNBC, former Commodity Futures Trading Commission (CFTC) commissioner Bart Chilton said that the US is at risk of missing out on potential economic value by not more openly supporting the technology in its nascent days. Citing recent advocacy by current CFTC commissioner J. Christopher Giancarlo, who appeared at CoinDesk’s Consensus 2016 blockchain conference, Chilton said that President Barack Obama "should heed the....
LedgerX, an institutional bitcoin trading and clearing platform, announced this week that Mark Wetjen, the ex-commissioner of the U. S. Commodity Futures Trading Comission (CFTC), will join its board. Nominated by President Barack Obama in 2011 and unanimously confirmed by the Senate as one of the five CFTC commissioners, Wetjen both helped to implement the first trading mandate for certain types of interest rate and credit default swaps and pushed the CFTC to undertake approximately 95 enforcement cases under the Dodd-Frank Act and Commodity Exchange Act. He also served as the acting....
A commissioner with the Commodity Futures Trading Commission (CFTC), Dawn Stump, has voiced concerns about cryptocurrency regulation through enforcement — the approach taken by both the CFTC and the U.S. Securities and Exchange Commission (SEC).
CFTC Commissioner Stump on Crypto Regulation
CFTC Commissioner Dawn Stump has raised concerns regarding the approach her agency and the U.S. Securities and Exchange Commission (SEC) are taking to regulate the crypto industry. The commissioner is a vocal proponent of clarifying guidelines for crypto assets.
In an....
The addition of Jill Sommers followed former CFTC commissioner Mark Wetjen becoming FTX US' head of policy and regulatory strategy in November 2021. Jill Sommers, who served as a commissioner at the United States Commodity Futures Trading Commission, has joined the board of directors for FTX US Derivatives.In a Thursday announcement, crypto exchange FTX US’ derivatives arm said Sommers had become its latest board member in a move seeming to increase the company’s regulatory efforts. Sommers served as a CFTC commissioner from 2007 to 2013 under former Presidents Barack Obama and George W.....
A commissioner of the Commodity Futures Trading Commission (CFTC) has spoken about the inadequacies and inefficiency of the current "closed ledger" banking system. He adds that distributed open ledgers could revolutionize financial ecosystems while noting certain "disruptive" implications for the current financial industry and those who are a part of it. Commissioner J Christopher Giancarlo spoke about bitcoin and the blockchain in a wide-ranging lecture on Fintech and international finance at the Harvard School of Law on December 1st. In a guest lecture that began with a disclaimer that....