News | 03.11.19
CFTC Chairman Calls for Light Touch on Blockchain Regulation
The rapid pace of technological innovation calls for a light regulatory touch when it comes to distributed ledger technologies, said CFTC Chair Christopher Giancarlo in a recent speech at the DC Blockchain Summit. “It is frequently tempting to apply a paternalistic hand on markets in order to steer them in desired directions or eliminate all risk, a truly futile exercise,” Giancarlo said. He added that he wants “careful oversight, targeted enforcement, and proper guardrails” where appropriate, and he urged “individual concerns or judgments” to not “override the availability of markets for others to make their own determinations or to pursue their own goals.” Giancarlo also called for greater technological literacy among business leaders to keep up with market innovations.
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