The former chairman of the Commodity Futures Trading Commission (CFTC) is known for his statements on cryptocurrencies. In the past, Giancarlo has made it clear that BTC and ETH are not securities. And today he says that cryptos define a new financial architecture.
Statements from the “Crypto Dad”
According to tweet from Bitcoin Magazine on August 7, Christopher Giancarlo made an interesting statement about bitcoin (BTC) and crypto. Indeed, he said:We have to think of it as a new architecture of money and finance.“. It must be said that the former chairman of the Commodity Futures Trading Commission (CFTC) has become popular for his crypto theories. When he was still chairman of the CFTC, he declared that bitcoin (BTC) and ether (ETH) were commodities. He said no not really actions.
Separately, Christopher Giancarlo was dubbed “Crypto Dad” after he gave a harrowing speech to Congress. In this speech, he pointed out that bitcoin had the merit of making his children interested in finance. Later, Giancarlo showed that XRP, just like BTC and ETH not a security. Interestingly, at that time he was working in a company that Ripple paid to create XRP.
In a document they wrote together, Conrad Bahlke and Giancarlo said: “Ultimately, under a fair application of the Howey test and the SEC’s currently expanded analysis, XRP should not be regulated as a security, but instead considered a currency or means of trade.“.
For Giancarlo, bitcoin (BTC) and crypto in general represent a new architecture for money and finance. This statement comes after several years of claims that BTC, ETH and XRP are not very safe.
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Luc Jose Adjinacou
Far from dampening my enthusiasm, an unsuccessful investment in cryptocurrency in 2017 only increased my enthusiasm. So I decided to study and understand the blockchain and its many uses and share my pen knowledge related to this ecosystem.