The Chairman of the CFTC (Commodity Futures Trading Commission), J. Christopher Giancarlo, continues to be crypto friendly with his latest comment that cryptocurrencies are here to stay. He made would say so during an interview with CNBC when he stated the following:
I personally think that cryptocurrencies are here to stay. I think there is a future for them. I’m not sure they ever come to rival the dollar or other hard currencies, but there’s a whole section of the world that really is hungry for functioning currencies that they can’t find in their local currencies. There’s 140 countries in the world, every one of them has a currency. Probably two-thirds are not worth the polymer or the paper they’re written on, and those parts of the world rely on hard currencies. Bitcoin [or another] cryptocurrency may solve some of the problems
Timeline of For Crypto To Become Mainstream
Chairman Giancarlo went on to offer a timeline as to when cryptocurrencies will be embraced by more people around the globe.
We’re talking maybe 10 years down the road.
Nominated By Trump
J. Christopher Giancarlo first served in former President Obama’s administration as a Commissioner of the CFTC. When President Trump was inaugurated, Gaincarlo was nominated by the president to be the full-time chair of the commission on March 14, 2017. He was confirmed by the US Senate on the 3rd of August, 2017.
Chairman Giancarlo’s past Comments on Crypto
The Chairman of the CFTC has on numerous occasions been nicknamed ‘Crypto Dad’ by the crypto community due to his welcoming approach towards digital assets. He recently requested the SEC to take a do-not-harm approach with regards to cryptocurrencies and everything relating to the new digital revolution of markets, currencies and assets.
What are your thoughts on Chairman Giancarlo’s comments that cryptocurrencies are here to stay? Do you agree with him? Or do you believe that Bitcoin and cryptocurrencies are dead? Please let us know what you think in the comment section below.
Disclaimer: This article is not meant to give financial advice. Any opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.