The former Chairman of the United States Commodity Futures Trading Commission (CFTC) Christopher Giancarlo has weighed in on the much talked about crackdown on Coinbase Exchange by the Securities and Exchange Commission (SEC).
Giancarlo Agrees on SEC’s Crackdown Being Boring
Giancarlo echoed insights from crypto advocate, Jim Harper who noted that while the enforcement action of the market regulator is important, the approach is ‘boring’. In buttressing this stance, Harper highlighted how old Bitcoiners do not necessarily need an exchange in the long term especially when transactional opportunities are factored into the utilities for which they are holding the asset.
As a former CFTC Chairman, Giancarlo has always been pro-crypto innovation and his advocacy post-office has earned him the moniker ‘Crypto Dad’.
While not commenting directly on whether the SEC will come out triumphant in the lawsuits it is filing against these exchanges it is going after, the belief is that th
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