CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • Market Updates
  • BTC Analysis
  • ETH Analysis
  • XRP Analysis
  • Interviews
  • Opinions
CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
Home » Crypto News » CFTC Chairman: The United States Should Lead Blockchain Innovation

CFTC Chairman: The United States Should Lead Blockchain Innovation

Author: Jordan Lyanchev

Last Updated Nov 13, 2019 @ 13:02

Heath Tarbert, the Chairman of the US Commodity Futures Trading Commission (CFTC), said at a conference yesterday that the country should increase its involvement in digital currencies and blockchain. He also called for action in terms of regulatory clarity.

The U.S. To Lead Blockchain Innovations

The chairman of the CFTC attended a conference on Tuesday and spoke about the involvement of US officials in blockchain and digital assets, in general. According to him, the country should be more receptive to technological innovations and should be in a leading position.

Heath Tarbert
Heath Tarbert, Chairman of the US CFTC

In any case, before any actual implementations, the US needs to lay down a proper infrastructure and create a welcoming environment, especially when it comes to stablecoins.

“We have a situation where stablecoins and other [digital products] could be regulated by 51 jurisdictions plus the federal government. I think that if we’re really going to lead, we should give some careful thought – and this is really a question for Congress, as well as others. You see other countries starting to make inroads in this area, and so as a regulator, I want to at least create an environment where innovation can flourish, and whatever risks there are, we’re able to mitigate those.”

According to Tarbert, digital assets “could have a fundamental transformational change to the global financial system.” He also noted that U.S. agencies are communicating daily to address any regulatory issues.

It’s worth noting that Facebook’s CEO, Mark Zuckerberg, recently spoke in front of Congress and brought up the topic of competition between different countries in the field. He outlined that the U.S. should take steps in this direction and implied that China is moving quickly. Just a few days later, Chinese President Xi Jinping said that his country should increase its involvement in the blockchain sector.

Attempts for U.S. Regulations

During his speech, Tarbert also mentioned previous regulatory actions in the U.S. One of them is the CFTC Reauthorization Act of 2019, which has a section specifically about digital commodities. However, the Chairman referred to it as a “great first step” but a “very modest” one as well.

Warren Davidson, who is a current member of the US House of Representatives, authored another bill called the Token Taxonomy Act. The bill aims to remove digital tokens from the SEC’s jurisdiction under a few specific conditions. The idea is to create a more transparent legal landscape in the country, preventing businesses from looking at other jurisdictions as an alternative.

SPECIAL OFFER (Sponsored)
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

You Might Also Like:

  • bmw_cover
    BMW Korea Goes Blockchain: Reward Program Inbound
  • bitcoin_history
    World Economic Forum Wants to Study Blockchain and Crypto
  • consensys
    ConsensSys Acquires JPMorgan's Blockchain Platform Quorum
Tags: CFTC Regulations
Enjoy reading? Share with your friends
Facebook Twitter LinkedIn Telegram

About The Author

Jordan Lyanchev
More posts by this author

Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

  • bitcoin
    BTC$39,708.00
  • ethereum
    ETH$2,160.09
  • Join Our Community

    FacebookX YouTubeTelegram


    Editorials
    Could the Blockchain Disrupt Big Data in the E-commerce Industry?

    Could the Blockchain Disrupt Big Data in the E-commerce Industry?

    Binance’s New CEO Richard Teng: The Key Factors That Will Drive Mass Adoption in 2024 (Interview)

    Binance’s New CEO Richard Teng: The Key Factors That Will Drive Mass Adoption in 2024 (Interview)

    How Bitcoin Can Be a Lifeboat for People in Third World Countries: Interview with Ledn’s Mauricio Di Bartolomeo

    How Bitcoin Can Be a Lifeboat for People in Third World Countries: Interview with Ledn’s Mauricio Di Bartolomeo

    What 600 Startup Applications Tell About Blockchain & AI in 2024

    What 600 Startup Applications Tell About Blockchain & AI in 2024

    Bitcoin, Security, and the Future of Crypto: Interview with Jameson Lopp (Bitcoin Amsterdam 2023)

    Bitcoin, Security, and the Future of Crypto: Interview with Jameson Lopp (Bitcoin Amsterdam 2023)

    Zero-Knowledge (ZK) 101: Everything You Need to Know About ZK Proofs

    Zero-Knowledge (ZK) 101: Everything You Need to Know About ZK Proofs

    Potential Implication of SBF Verdict on Crypto Leaders

    Potential Implication of SBF Verdict on Crypto Leaders

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers
    Editorial Policy
    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!