The former chairman of the Commodity Futures Trading Commission (CFTC) is known for his statements on cryptocurrencies. In the past, Giancarlo had made it clear that BTC and ETH are not securities. And today he says that cryptos are defining a new architecture of finance.
Statements from the “Crypto Dad”
According a tweet from Bitcoin Magazine on August 7, Christopher Giancarlo made an interesting statement about bitcoin (BTC) and crypto. Indeed, he said:We have to think of it as a new architecture of money and finance.“. It must be said that the former chairman of the Commodity Futures Trading Commission (CFTC) has become popular with his crypto theories. When he was still chairman of the CFTC, he declared that bitcoin (BTC) and ether (ETH) are commodities. He said they weren’t not really actions.
Separately, Christopher Giancarlo was dubbed “Crypto Dad” after delivering an impassioned speech to Congress. In this speech, he notably indicated that bitcoin had the merit of having led his children to take an interest in finance. Later, Giancarlo indicated that XRP, just like BTC and ETH, is not not a security. Intriguingly, he was working at that time in a company paid for by Ripple which created XRP.
In a document they wrote together, Conrad Bahlke and Giancarlo said: “Ultimately, under a fair application of the Howey test and the SEC’s currently expanding analysis, XRP should not be regulated as a security, but rather considered a currency or a means of trading. ‘exchange.“.
For Giancarlo, bitcoin (BTC) and crypto in general represent a new architecture for money and finance. This statement comes after several years of claiming that BTC, ETH and XRP are not very safe.
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