Gaurav S. Iyer, IFCRead Full Bio The Commodity Futures Trading Commission (CFTC) is not the hero investors asked for, but it’s the one they got when Chairman J. Christopher Giancarlo testified before the Senate Banking Committee. Giancarlo struck a bullish tone on cryptocurrencies, saying that regulators should “do no harm” to private sector innovation.
He presented himself and his colleague, SEC Chairman Jay Clayton, as friends of the cryptocurrency market. Those comments reversed a market-wide crash in cryptocurrencies.
ETH prices have rebounded by 33% since then, bringing the Ethereum to USD exchange rate to $835.00. Now they could receive another tailwind courtesy of the CFTC.
The Commission is hosting two panels on Wednesday. Both will feature cryptocurrency experts like Charley Cooper (managing director of R3) and Jerry Brito (executive director of Coin Center) alongside top brass from Washington D.C.
Given the conciliatory tone of the meeting, investors are hoping for a productive outcome. I think that’s a little optimistic. Read more from profitconfidential.com…
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