Is the New CFTC Chairman Heath Tarbert a Bitcoin Ally or Enemy?

By CCN: Bitcoin fans are wistful after learning that the pro-crypto CFTC (Commodity Futures Trading Commission) chairman Christopher Giancarlo is stepping down on July 15.

The U.S. Senate confirmed Giancarlo’s successor, Heath Tarbert, by a vote of 84 to 9.

Heath Tarbert was confirmed as the new CFTC chairman by a vote of 84 to 9. | Source: Senate.gov

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.

crypto dad christopher giancarlo heath tarbert

Outgoing CFTC chair Christopher Giancarlo, a bitcoin advocate, expressed confidence in his successor, Heath Tarbert. | Source: CFTC.gov

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…

Source Link