The U.S. Senate confirmed Giancarlo’s successor, Heath Tarbert, by a vote of 84 to 9.
Giancarlo Backs Heath Tarbert
Giancarlo was affectionately nicknamed “Crypto Dad” for his pro-bitcoin rhetoric. In a June 5 statement, Giancarlo expressed his “enthusiastic congratulations” to Tarbert, whom he called “highly qualified.”
Tarbert’s position on cryptocurrencies is unknown. However, Giancarlo says Tarbert shares his vision of helping the CFTC transition into “a 21st Century regulator for today’s digital markets.”
Tarbert, a Republican nominated by President Donald Trump, is very pro-business. Therefore, it’s likely that he opposes over-regulation that would stifle innovation.
Tarbert is currently an acting undersecretary at the U.S. Treasury. He is also a member of the Financial Stability Board, an international body that monitors the global economy.
As CCN reported, the FSB recently said that cryptocurrencies are not a threat to the world economy.
Giancarlo: Buckle Up For ‘Explosion of Interest’ in Cryptocurrencies
In his final speech before Congress in May, Giancarlo predicted that there would be an “explosion of interest in cryptocurrencies.”
At the time, Giancarlo said the CFTC had been trying to keep up with the rapidly-evolving developments in today’s high-speed tech environment.
However, he conceded that the meteoric pace of technology was overwhelming regulators. Accordingly, Giancarlo said the CFTC should adopt an “exponential growth mindset” that anticipates the rapid pace of innovation.
So basically, Giancarlo believes that bitcoin…