States will not be able in the near future to adopt appropriate regulation of the cryptocurrency market, because of the need to amend the rules, dated 1935. This commentary MSN Money said the Chairman of the Commission on trade commodity futures (CFTC) and Christopher Giancarlo.
“CFTC hard to define in the regulations of 1935 the place where you can take the bitcoin and other virtual currency. We can see elements of securities that fall under our regulations. However, in the digital assets you can find any aspects. It all depends on which side you look at it”, — said Giancarlo.
The Chairman of the CFTC added that the bitcoin futures that are already trading, two major exchange CBOE and CME also quite difficult to resolve due to the nature of the underlying asset.
“Bitcoin and many other cryptocurrencies have elements of different valuable assets (long term assets or the payment intermediary). We have to understand and it is rather difficult. I don’t think this problem will be solved in the nearest future”, — he concluded.
We will remind, in April Christopher Giancarlo has denied his involvement in the promotion and support of the cryptocurrency.