The president of the CFTC (Commodity Futures Trading Commission), J. Christopher Giancarlo, continues to be cryptic with his last comment on the fact that cryptocurrencies are here to stay. He did so during an interview with CNBC when he stated the following:
Personally I think that cryptocurrencies are here to stay. I think there is a future for them. I'm not sure they ever rival the dollar or other strong currencies, but there's a whole section of the world that's really hungry for working currencies that they can not find in their local currencies. There are 140 countries in the world, each of them has a currency. Probably two-thirds are not worth the polymer or paper they are written on, and those parts of the world rely on strong currencies. Bitcoin [or another] cryptocurrency can solve some of the problems
Chronology of For Crypto to become mainstream
President Giancarlo has continued to offer a timeline on when cryptocurrencies will be embraced by more people around the world.
We are talking about maybe 10 years along the way.
Named by Trump
J. Christopher Giancarlo served in the administration of former president Obama as CFTC commissioner. When President Trump was inaugurated, Gaincarlo was appointed by the president as a full-time chairman of the commission on March 14, 2017. It was confirmed by the US Senate on August 3, 2017.
The comments of President Giancarlo on Crypto
The CFTC president has been on numerous occasions dubbed "Crypto Dad" by the cryptic community because of his welcoming approach to digital assets. He recently asked the SEC to take a non-malicious approach as regards cryptocurrencies and everything related to the new digital revolution of markets, currencies and assets.
What do you think of President Giancarlo's comments that cryptocurrencies are here to stay? Are you in agreement with him? Or do you think Bitcoin and cryptocurrency are dead? Let us know what you think in the comments section below.
Disclaimer: this article is not intended to give financial advice. Any opinion here is purely that of the author and does not represent the opinion of Ethereum World News or its other writers. Perform your research before investing in one of the many cryptocurrencies available. Thank you.