Ex-CFTC Head Says Regulators Can Engage With Crypto ‘If They Have the Will to Do So’

Chris Giancarlo, the former senior U.S. markets cop known as “Crypto Dad,” appeared to criticize his successors in Washington as they crack down on the cryptocurrency industry.

Under Giancarlo’s watch as chairman, the U.S. Commodity Futures Trading Commission in 2017 approved regulated futures contracts tied to bitcoin (BTC), and, to this day, they remain the only fully regulated crypto product traded in the U.S., he said Wednesday at CoinDesk’s Consensus 2023 event.

Read full coverage of Consensus 2023 here.

Their success, he added, is “proof that regulators can engage successfully with crypto if they have the will to do so.”

While not an overt complaint about the current regime in Washington, the comments did stand out as U.S. markets regulators get tougher on crypto. Members of the industry have argued regulators have been too vague on how they view the business and how current laws apply – if at all. Just this week, Coinbase, the biggest U.S. crypto exchange, asked a court to compel the Securities and Exchange Commission to finally respond to its request for greater clarity.

Giancarlo is co-chair of law firm Willkie Farr & Gallagher’s digital works practice. He published a book in 2021 titled “CryptoDad: The Fight for the Future of Money.”

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Edited by Aoyon Ashraf.

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