Outdated Statutes Hindering Crypto Regulation: CFTC Chair

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TheMerkle_UK Payments Regulator CompetitionBitcoin and many other cryptocurrencies have elements of all asset classes. This makes it very complicated for regulators to come up with a comprehensive regulatory framework for this industry. That’s according to the US Commodity Futures Trading Commission (CFTC) chairman, Chris Giancarlo, in an interview with CNBC. He added that as a regulator, he doubts there will be a solution in the near future, as most of the statutes that are being applied today by regulators were formulated over 70 years ago. That makes it difficult for one to regulate new and advanced technological innovations like Bitcoin. Fostering Innovation And Expected Legislation Giancarlo discussed the CFTC’s role

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