CFTC's Giancarlo: How US Regulators Can Boost Blockchain in 2017
I spoke a lot about distributed ledger technology (DLT) this past year because I believe in its promising benefits for the financial marketplace and financial regulators. DLT may help market participants manage the enormous operational, transactional and capital complexity brought about by the legion of disparate mandates, regulations and capital requirements promulgated globally in the wake of the 2008 financial crisis. For regulators, DLT may help transcend the fragmented regulatory structure by providing reference to a single, verified record of all financial transactions across....
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Commissioner J Christopher Giancarlo of the Commodity Futures Trading Commission (CFTC) said today that he believes the government agency should reexamine existing rules as necessary to foster innovation with blockchain technologies. Giancarlo’s remarks on the possibility of revisiting CFTC regulations in light of new blockchain applications came as part of a keynote address at the DTCC Blockchain Symposium today, in which he discussed his view on the implications of blockchain and distributed ledgers for regulators. Evoking comparisons to the Internet, Giancarlo went so far as to suggest....
Donald Trump hasn't even formally appointed CFTC commissioner Chris Giancarlo as chairman yet, and he's already appropriated the president-elect's slogan: "Making Market Reform Work for America." In comments given to about 300 swaps traders, analysts and more at the SEFCON event in New York City this week, Giancarlo for the first time referred to himself in public as "acting chairman" and laid out his "agenda" going forward for the regulation of blockchain and distributed ledger tech. Reading from a prepared speech, the current CFTC commissioner yesterday....
Recently completed blockchain and distributed ledger tests at major financial institutions are "proving the merit" of the technology, J Christopher Giancarlo, commissioner of the US Commodity Futures Trading Commission (CFTC), said today. In a keynote address at an event held today by the Cato Institute, Giancarlo cited a recent "successful test" of the use of blockchain in the credit default swaps markets. Announced earlier this month, the trial was organized by the DTCC and involved participation from Bank of America, Citigroup and Credit Suisse, as well as industry....
Giancarlo has been a vocal supporter of cryptocurrencies and CBDCs and has called for a “do no harm approach” to blockchain regulation. Blockchain investment firm CoinFund has appointed former United States commodities regulator J. Christopher Giancarlo as a strategic adviser — a move that should help the Brooklyn-based company navigate the complex, ever-changing regulatory requirements in its home country. Often referred to as “Crypto Dad” by the blockchain community for his support of digital assets, Giancarlo was nominated as commissioner of the Commodity Futures Trading Commission....
Former CFTC head Giancarlo said a “central bank mindset” is holding crypto back, and Wetjen saw the need for more entrepreneurialism in regulatory agencies. Former Commodity Futures Trading Commission (CFTC) chairman Chris Giancarlo, known by some as Crypto Dad during his tenure from 2017 to 2019, spoke on the topic of U.S. crypto regulation at the Crypto Bahamas conference on Thursday. He called the current U.S. regulations, many of which were written in the 1930s, “nonapplicable” to the current financial reality of cryptocurrencies.Giancarlo expressed concern that central banks were....