TagJ Christopher Giancarlo

'Crypto Dad' Pens Heartfelt Open Letter Ahead of CFTC Exit

Christopher Giancarlo, CFTC, bitcoin, crypto

By CCN: J. Christopher Giancarlo, Chairman of the US Commodity Futures Trading Commission (CFTC), is preparing to step aside after five years on the job. The regulator, lovingly nicknamed "Crypto Dad," penned a heartfelt open letter to the blockchain world ahead of his exit from the agency. The CFTC Has Always Been More Crypto-Friendly Than The SEC The CFTC, which regulates commodities and...

Crypto Hero? Retiring CFTC Chief Bites Back at Anti-Bitcoin Bullies

J. Christopher Giancarlo CFTC bitcoin

The CFTC chief delivered more than an earful about the way some outsiders really feel about bitcoin. J. Christopher Giancarlo, chairman of the U.S. Commodity Futures Trading Commission (CFTC), is nearing retirement when his term ends later this month. Known as Crypto Dad to the SEC's Crypto Mom Hester Peirce, Giancarlo might deserve the title as Crypto Hero, instead, considering the heat he has...

Ethereum Futures Inbound? CFTC Asks for Public Comment on ETH Network

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The Commodity Futures Trading Commission (CFTC) has put out a Request for Information (RFI) asking for public comment and feedback to enable it better understand Ether and the Ethereum blockchain as it seeks to expand its cryptocurrency knowledge base beyond bitcoin. In a press release dated December 11, the regulator stated that it is seeking the feedback to inform its grasp of the mechanics...

Bitcoin Futures Trading Rose 41 Percent in Q3: CME

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Bitcoin futures trading volumes continued to rise in Q3, with derivatives exchange CME reporting a 41 percent quarter-over-quarter increase in average daily volume. Bitcoin Futures Volumes See Major Bump in Q3 During Q3, the exchange averaged 5,053 contracts -- each equivalent to 5 BTC -- traded during each daily trading session, representing 25,265 BTC in volume. Open interest in CME’s bitcoin...

Bitcoin Futures Helped Cryptocurrency Market Achieve ‘More Sustainable Level’: CFTC Chairman

J. Christopher Giancarlo CFTC bitcoin

When derivatives exchanges CBOE and CME launched the first regulated U.S. bitcoin futures contracts, many cryptocurrency bulls thought that this event would lead to a wave of institutional investment and propel the market toward even greater highs. Just days later, the yearlong bitcoin price rally stalled, and the flagship cryptocurrency -- followed soon after by the wider market -- entered a...

CFTC Cracks Down Harder on Cryptocurrency Fraud Under Trump

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The Commodity Futures Trading Commission (CFTC) has bolstered its police actions in the last fiscal year, driven largely by cryptocurrency cases, according to The Wall Street Journal. Under President Trump, the federal derivatives market regulator levied about $900 million in civil penalties in 2018 alone, exceeding the annual amount in five of the eight years of the Obama administration. The...

Cryptocurrency is ‘Here to Stay’: CFTC Chairman Giancarlo

cryptodad j. christopher giancarlo cftc bitcoin

Bitcoin may never replace the greenback, but the flagship cryptocurrency could achieve significant adoption in the two-thirds of countries without stable currencies. That statement might sound like a thesis put forward by an early bitcoin adopter, or perhaps a forward-thinking hedge fund manager. In actuality, though, that bullish forecast was issued by J. Christopher Giancarlo, the top...

We’re ‘Thrilled’ That Regulators Are Getting Involved in Crypto: Ripple Exec.

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There’s a deep divide within the cryptocurrency community about whether increased attention from regulators is a positive step in the industry’s maturation process or an unnecessary roadblock to innovation. Ripple, the San Francisco-based blockchain startup and majority owner of the “bank-friendly” XRP cryptocurrency, has always tended toward the former view. Speaking during a recent interview...

CFTC Chairman J. Christopher ‘Cryptodad’ Giancarlo to Retire After Term Ends in 2019

cryptodad j. christopher giancarlo cftc bitcoin

The top markets regulator in the United States has confirmed that he will retire following the expiration of his term in 2019, depriving the cryptocurrency industry of one of the Washington establishment's friendliest voices. Speaking with financial publication IFLR at last week’s International Swaps and Derivatives Association (ISDA) annual general meeting, Commodity Futures Trading Commission...

US Regulators Working Together to Combat Crypto Fraud, Says CFTC’s Giancarlo

Christopher Giancarlo

US regulators have begun to coordinate with their overseas counterparts to combat cryptocurrency fraud, Commodity Futures Trading Commission (CFTC) Chairman J. Christopher Giancarlo said Wednesday. Giancarlo revealed this international effort during a U.S. House of Representatives committee hearing on the CFTC’s budget for fiscal year 2019, adding that officials in the Treasury Department and...

US Regulators Talk Bitcoin's Generational Impact


As cryptocurrency evolves, so does its relationship with government. While lawmakers in some countries seek to suppress a financial force they don’t understand, in the U.S., the reverse appears to have started to take hold, indicating an opportunity is at hand for a dialog between the industry and lawmakers. In a Senate Banking Committee hearing this month on virtual currencies, the chairmen of...

CFTC Chairman Calls for Agency to Support Blockchain and Fintech Innovation


The commissioner and acting chairman of the U.S. Commodity Futures Trading Commission (CFTC), J. Christopher Giancarlo, called on the agency to support distributed ledger technology (DLT) and fintech innovation in his keynote address before the SEFCON VI conference sponsored by the Wholesale Markets Brokers’ Association. Giancarlo said he supports the core reforms of Title VII of Dodd-Frank, the...

CFTC Official: Early Internet Regulatory Model Will Help Blockchain Evolve


J. Christopher Giancarlo, a commissioner at the Commodity Futures Trading Commission (CFTC), told a Depository Trust & Clearing Corp. symposium that blockchain should be allowed to develop with minimal government regulation. Giancarlo noted in his published remarks that the Telecommunications Act of 1996 offers a good model since it allowed the Internet to evolve under the private sector’s...

CFTC Commissioner: Blockchain Tech Could Have Averted Lehman Collapse


In a breakthrough special address to the Depository Trust & Clearing Corporation 2016 Blockchain Symposium, CFTC Commissioner J. Christopher Giancarlo, signalling the changing attitude of regulators towards blockchain technology, called on regulators to follow private sector innovation, and not lead, to adopt a light touch approach and to primarily follow the philosophy of “do no harm”, a...

CFTC Commissioner Sees Blockchain's Potential to Revolutionize the Financial Industry


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...