Former CFTC Chair: A Bitcoin ETF Would Be Good For Investors And Regulators
Timothy Massad delineates the case for the SEC to approve a bitcoin ETF, something he claims could benefit retail investors and regulators.An opinion article published today on Bloomberg makes a case for the U.S. Securities and Exchange Commission (SEC) to approve a bitcoin exchange-traded fund (ETF).According to the piece, authored by former chairman of the Commodity Futures Trading Commission (CFTC) Timothy Massad, such a product could "enhance transparency and integrity" in the Bitcoin industry."A Bitcoin ETF would be a way for retail investors to invest in cryptocurrency without having....
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Now that financial regulators have started to step up their game in conducting oversight on the bitcoin industry, cryptocurrency companies have been adding former heads of financial regulation institutions to their advisory board. BitFury recently announced that the former chair of the Commodity Futures and Trading Commission (CFTC), which is responsible for financial oversight in the US, will be joining their advisory board. Ex-CFTC head Dr. James Newsome will be joined by Hernando de Soto, president of the Institute of Liberty and Democracy (ILD), in the advisory board. Newsome....
“We should act now to improve access to financial services through other means as well — the need is too great," said Tim Massad. Tim Massad, who served as chair of the Commodity Futures Trading Commission until 2017, said the United States is too slow in developing a plan to modernize its payment systems.In a Wednesday hearing of the Joint Economic Committee on the role of digital assets in government, Massad said a central bank digital currency, or CBDC, could be one solution for the United States to improve its existing payments systems, which he referred to as “slow” and “expensive.”....
After his most recent stint teaching about blockchain at MIT, former CFTC head Gary Gensler is reportedly the next SEC Chair.
Gary Gensler will reportedly ensure a smooth transition with the Federal Reserve in addition to banking and securities regulators. Less than four days after his official acceptance speech, Joe Biden has already begun assembling a team including the former chairman of the Commodity Futures Trading Commission as part of his transition to the 46th President of the United States.According to a Nov. 10 announcement from the ‘Biden-Harris Transition’, Gary Gensler has volunteered to join President-elect Joe Biden’s team as a financial expert. The former CFTC chair will be the lead tasked with....
Per a Reuters report, the Federal Deposit Insurance Corporation (FDIC) Chair Jelena McWilliams claims regulators in that country are exploring a “clear path” to allow banks and clients to hold Bitcoin and other cryptocurrencies. Related Reading | CFTC Commissioner Stresses: Ethereum Is Under Our Jurisdiction In doing so, the U.S. officials are looking to incentivize […]