Difference between revisions of "J. Christopher Giancarlo"

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{{Infobox Person
 
{{Infobox Person
|employer =  [[CFTC]]
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|employer =  CFTC
 
|job      =  Chairman
 
|job      =  Chairman
 
|loc      =  Washington, D.C.
 
|loc      =  Washington, D.C.
 
|name    =  J. Christopher Giancarlo
 
|name    =  J. Christopher Giancarlo
|pic      =  chris_giancarlo.jpg{{!}}200px
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|pic      =  chris_giancarlo.jpg{{!}}100px
|linkedin = j-christopher-giancarlo-77257111
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|linkedin = https://www.linkedin.com/in/j-christopher-giancarlo-77257111/
 
|stocktwits = <!-- Person's StockTwits id, e.g. JohnLothian, or blank -->
 
|stocktwits = <!-- Person's StockTwits id, e.g. JohnLothian, or blank -->
 
|twitter  =  CFTC
 
|twitter  =  CFTC
 
|twitterpersonal  =  giancarloCFTC
 
|twitterpersonal  =  giancarloCFTC
|url      =  [https:CFTC.gov CFTC.gov]
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|url      =  [https://CFTC.gov CFTC.gov]
 
|blog      =  <!-- Person's blog site, or leave blank -->
 
|blog      =  <!-- Person's blog site, or leave blank -->
 
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J. Christopher Giancarlo is chairman of the [[U.S. Commodity Futures Trading Commission]] (CFTC). The U.S. Senate confirmed him in that role on August 3, 2017.  He had been acting chairman at the commission since January 20, 2017.<ref>{{cite web|url = http://www.mondovisione.com/media-and-resources/news/cftc-names-j-christopher-giancarlo-acting-chairman/|name = CFTC Names J. Christopher Giancarlo Acting Chairman|org = Mondovisione|date = November 8, 2018}}</ref>
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J. Christopher Giancarlo was chairman of the [[U.S. Commodity Futures Trading Commission]] (CFTC) from January 2017 to June 2019. The U.S. Senate confirmed him in that role on August 3, 2017.  He had been acting chairman at the commission since January 20, 2017.<ref>{{cite web|url = http://www.mondovisione.com/media-and-resources/news/cftc-names-j-christopher-giancarlo-acting-chairman/|name = CFTC Names J. Christopher Giancarlo Acting Chairman|org = Mondovisione|date = November 8, 2018}}</ref>
  
 
== Full page on MarketsWiki ==
 
== Full page on MarketsWiki ==
  
 
''To read the full article on J. Christopher Giancarlo, click on [[File:Marketswiki.gif|25px|link=http://www.marketswiki.com/wiki/J._Christopher_Giancarlo]] to open a new tab with MarketsWiki.''
 
''To read the full article on J. Christopher Giancarlo, click on [[File:Marketswiki.gif|25px|link=http://www.marketswiki.com/wiki/J._Christopher_Giancarlo]] to open a new tab with MarketsWiki.''
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== Cryptocurrency and Blockchain ==
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Giancarlo has maintained an even stance on [[cryptocurrency]] and [[blockchain]] technology, especially regarding regulation. In February 2018, he said in a talk to the Senate Banking Committee in Washington, D.C. that [[digital assets]] and blockchain technology that virtual currency and other emerging financial technologies "are taking us into a new chapter of economic history." He also said that, although [[bitcoin]] and other digital assets are considered [http://www.marketswiki.com/wiki/Commodities commodities], the CFTC does not have jurisdiction on [http://www.marketswiki.com/wiki/Spot_Trading spot trading] for digital assets. He emphasized the need for regulators to have "perspective" and encouraged those at the CFTC, the [[SEC]] and other federal and state regulators and criminal authorities to work together to create "forward-thinking" regulations for digital asset trading and the implementation of blockchain technology.<ref>{{cite web|url = https://www.cftc.gov/PressRoom/SpeechesTestimony/opagiancarlo37|name = Written Testimony of Chairman J. Christopher Giancarlo before the Senate Banking Committee, Washington, D.C.|org=U.S. Commodity Futures Trading Commission|date = November 8, 2018}}</ref>
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In October, Giancarlo said that regulating cryptocurrency [http://www.marketswiki.com/wiki/Derivatives derivatives] markets is best handled by taking a "two-handed approach." On one hand, he said that it is the duty of regulators like the CFTC to crack down on those using digital assets to commit fraud and other crimes. On the other hand, he said that these problems are in part due to a lack of a market infrastructure, which he said would develop naturally as institutional investors move into the space.<ref>{{cite web|url = https://www.coindesk.com/cftc-chair-giancarlo-says-institutional-investors-will-help-crypto-mature/|name = CFTC Chair Giancarlo Says Institutional Investors Will Help Crypto 'Mature'|org=Coindesk|date = November 8, 2018}}</ref>
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In November, Giancarlo said in a talk at Georgetown University's [[Fintech]] Week Conference that [[distributed ledger]] technology like blockchain could potentially benefit market watchdogs like the CFTC by improving the efficiency of regulatory processes.<ref>{{cite web|url = https://www.coindesk.com/cftc-chair-says-distributed-ledger-tech-can-aid-market-watchdogs/|name = CFTC Chair Says Distributed Ledger Tech Can Aid Market Watchdogs|org=Coindesk|date = November 8, 2018}}</ref>
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=== Crypto-agnostic ===
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Giancarlo has long maintained a balanced, "do no harm" view on cryptocurrency and blockchain technology. Though he has repeatedly affirmed the presence of widespread criminal activity in the crypto space, including fraud and theft, he has also emphasized the need for regulators to allow room for innovators within the space to flourish.<ref>{{cite web|url = https://www.cnbc.com/2018/09/14/do-no-harm-in-regulating-cryptocurrencies-but-be-vigilant-cftc.html|name =Cryptocurrency regulation requires a 'do no harm' approach, US regulator says|org=CNBC|date = November 8, 2018}}</ref><ref>{{cite web|url = https://www.coindesk.com/cftc-chair-giancarlo-says-institutional-investors-will-help-crypto-mature/|name = CFTC Chair Giancarlo Says Institutional Investors Will Help Crypto 'Mature'|org=Coindesk|date = November 8, 2018}}</ref>
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Giancarlo has explicitly said that he is "not a cryptocurrency evangelist." He has said that he does not want to be dismissive of the "new generation" of digital asset traders, despite his role as a regulator.<ref>{{cite web|url = https://www.coindesk.com/cftc-chairman-not-cryptocurrency-evangelist/|name = CFTC Chairman: I Am Not a Cryptocurrency Evangelist|org=Coindesk|date = November 8, 2018}}</ref> He has also said that, although he does not believe that bitcoin or [[altcoins]] will necessarily replace fiat currencies, they "may solve some of the problems" in parts of the world in which local currencies have low value relative to currencies like the U.S. dollar.<ref>{{cite web|url = https://www.ccn.com/cryptocurrency-is-here-to-stay-cftc-chairman-giancarlo/|name = Cryptocurrency is ‘Here to Stay’: CFTC Chairman Giancarlo|org=CCN|date = November 8, 2018}}</ref>
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=== "Crypto Dad" and departure from the CFTC ===
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Giancarlo's stance on cryptocurrency and blockchain technology led the online crypto community to give him the nickname "Crypto Dad," echoing the "Crypto Mom" nickname given to the SEC's [[Hester Peirce]]. In an open letter written by Giancarlo and published by Coindesk shortly before his retirement as chairman of the CFTC, Giancarlo said he was "humbled" by the nickname. In the letter, Giancarlo urged readers to embrace cryptocurrency and blockchain in the name of keeping up with the "extraordinary" pace of technological change and protecting the free markets. He also discouraged the idea of markets being controlled by politics and "human enterprise" while urging for a balance between policy, regulatory oversight, private sector innovation and "a little bit of courage."<ref>{{cite web|url = https://www.coindesk.com/christopher-giancarlo-cftc-future-of-blockchain|name=Free Markets and the Future of Blockchain|org=Coindesk|date = May 16, 2019}}</ref>
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In September 2019, Giancarlo joined the board of directors for the American Financial Exchange (AFX) and the advisory board for the [[Chamber of Digital Commerce]]. Regarding the latter, he said he was looking forward to joining a group dedicated to the promotion of crypto and blockchain technology, and that he hoped that "together we can streamline and modernize the regulatory environment and encourage further blockchain innovation.”<ref>{{cite web|url=http://www.mondovisione.com/news/the-honorable-christopher-giancarlo-joins-board-of-directors-of-the-american-fin/|name=The Honorable Christopher Giancarlo Joins Board of Directors of the American Financial Exchange (AFX)|org=Coindesk|date=September 18, 2019}}</ref><ref>{{cite web|url=https://www.coindesk.com/ex-cftc-chair-crypto-dad-giancarlo-joins-digital-chamber-trade-group|name=Ex-CFTC Chair ‘Crypto Dad’ Giancarlo Joins Digital Chamber Trade Group|org=Coindesk|date=September 18, 2019}}</ref>
  
 
== References ==
 
== References ==
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[[Category: People]]
 
[[Category: People]]
 
[[Category: blockchain]]
 
[[Category: blockchain]]
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[[Category: regulators]]

Latest revision as of 15:43, 30 September 2019


J. Christopher Giancarlo
Chris giancarlo.jpg
Occupation Chairman
Employer CFTC
Location Washington, D.C.
Twitter @CFTC
Personal Twitter @giancarloCFTC
LinkedIn Profile
Website CFTC.gov

J. Christopher Giancarlo was chairman of the U.S. Commodity Futures Trading Commission (CFTC) from January 2017 to June 2019. The U.S. Senate confirmed him in that role on August 3, 2017. He had been acting chairman at the commission since January 20, 2017.[1]

Full page on MarketsWiki

To read the full article on J. Christopher Giancarlo, click on Marketswiki.gif to open a new tab with MarketsWiki.

Cryptocurrency and Blockchain

Giancarlo has maintained an even stance on cryptocurrency and blockchain technology, especially regarding regulation. In February 2018, he said in a talk to the Senate Banking Committee in Washington, D.C. that digital assets and blockchain technology that virtual currency and other emerging financial technologies "are taking us into a new chapter of economic history." He also said that, although bitcoin and other digital assets are considered commodities, the CFTC does not have jurisdiction on spot trading for digital assets. He emphasized the need for regulators to have "perspective" and encouraged those at the CFTC, the SEC and other federal and state regulators and criminal authorities to work together to create "forward-thinking" regulations for digital asset trading and the implementation of blockchain technology.[2]

In October, Giancarlo said that regulating cryptocurrency derivatives markets is best handled by taking a "two-handed approach." On one hand, he said that it is the duty of regulators like the CFTC to crack down on those using digital assets to commit fraud and other crimes. On the other hand, he said that these problems are in part due to a lack of a market infrastructure, which he said would develop naturally as institutional investors move into the space.[3]

In November, Giancarlo said in a talk at Georgetown University's Fintech Week Conference that distributed ledger technology like blockchain could potentially benefit market watchdogs like the CFTC by improving the efficiency of regulatory processes.[4]

Crypto-agnostic

Giancarlo has long maintained a balanced, "do no harm" view on cryptocurrency and blockchain technology. Though he has repeatedly affirmed the presence of widespread criminal activity in the crypto space, including fraud and theft, he has also emphasized the need for regulators to allow room for innovators within the space to flourish.[5][6]

Giancarlo has explicitly said that he is "not a cryptocurrency evangelist." He has said that he does not want to be dismissive of the "new generation" of digital asset traders, despite his role as a regulator.[7] He has also said that, although he does not believe that bitcoin or altcoins will necessarily replace fiat currencies, they "may solve some of the problems" in parts of the world in which local currencies have low value relative to currencies like the U.S. dollar.[8]

"Crypto Dad" and departure from the CFTC

Giancarlo's stance on cryptocurrency and blockchain technology led the online crypto community to give him the nickname "Crypto Dad," echoing the "Crypto Mom" nickname given to the SEC's Hester Peirce. In an open letter written by Giancarlo and published by Coindesk shortly before his retirement as chairman of the CFTC, Giancarlo said he was "humbled" by the nickname. In the letter, Giancarlo urged readers to embrace cryptocurrency and blockchain in the name of keeping up with the "extraordinary" pace of technological change and protecting the free markets. He also discouraged the idea of markets being controlled by politics and "human enterprise" while urging for a balance between policy, regulatory oversight, private sector innovation and "a little bit of courage."[9]

In September 2019, Giancarlo joined the board of directors for the American Financial Exchange (AFX) and the advisory board for the Chamber of Digital Commerce. Regarding the latter, he said he was looking forward to joining a group dedicated to the promotion of crypto and blockchain technology, and that he hoped that "together we can streamline and modernize the regulatory environment and encourage further blockchain innovation.”[10][11]

References