Bitcoin, Crypto currency, Blockchain

CTFC-Chairman Giancarlo: “back in the Blockchain four years”

f26fd823d70f491b2d36dfcd02c4c9e1 - CTFC-Chairman Giancarlo: "back in the Blockchain four years"


The Chairman of the U.S. securities and exchange Commission CTFC Christopher Giancarlo insists on the urgency to test the Blockchain technology for the purposes of its authority. In comparison, for example, to the British Central Bank was cut off. This underscore CTFC-head this week during a hearing of the U.S. Congress for the modernization of the stock exchange supervision.

While the Bank of England vorprescht this week, and your System wants to make interbank payments for Blockchain-technology and Fintech companies accessible, it feels on the other side of the Atlantic, far behind. This underscore Christopher Giancarlo, chief of the U.S. securities and exchange Commission CTFC, this week.

In the Wake of a congressional hearing on the future Agenda of the authority, he insisted on more opportunities to test the Blockchain technology.

“We fall back. Two days ago, the Bank of England has announced a new block chain, friendly Bank-to-Bank payment system. For all of this Blockchain-beta tests, we were not able to participate, they had the last four years. Therefore, I think that we are four years“,

the 59-Year-old.

“Because we need it [the technology] to test […], we need samples of how you can help us in our activity as a controlling authority.”

He stressed that the CTFC need legally waterproof, and at the same time-fast processes for the exchange of data with Fintech companies.

This would make it easier to in June by the US Congress, launched in CFTC Research and Development Modernization Act. The law to his authority, more freedom and the way of the future, by the securities and exchange Commission, among other things, allowed themselves, without direct payment to Fintech projects to participate.

In the view of CTFC-chief Giancarlo, this step is urgently necessary, because the legal hurdles have so far prevented, that the authority of the Blockchain pilots, operators, or Start-up company employees for the purpose of information extraction.

Giancarlo: the Blockchain is America’s “national interest”

Off of his demands for more involvement in the area of Blockchain, announced Giancarlo increased spending for Monitoring in the area of crypto-currencies. Here it was especially the cyber criminals decided to put the craft.

The Commodity Futures Trading Commission (CFTC) based in Washington, oversees Futures and option markets in the United States. Crypto-currencies and their derivatives the authority, as a commodity, i.e. as a so-called Commodities , and thus requires their supervision.

During the CTFC chief crypto-eyed currencies with skepticism, he is considered a loud Advocate of the Blockchain technology. In the context of a Senate hearing on the possible regulation of crypto-currencies last February, Giancarlo was convinced of the potential of the Blockchain for the public service. Last September, he had warmed to government officials of the possibilities of Distributed Ledger technologies for financial systems. To devote themselves to technology, whether in the “national interest” of the United States.

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