I'm Not a Crypto Evangelist, CFTC Chairman Says

The head of the U.S. commodities regulator had a clear message: he is not a supporter for cryptocurrencies
17 April 2018   532

The Chairman of the Commodity Futures Trading Commission (CFTC), Christopher Giancarlo, denied his involvement in the promotion and support of the cryptocurrency. This is reported by CoinDesk.

Talks that Giancarlo is a supporter of bitcoin had began in February, after his report to the Senate committee. In it, in particular, he stated that "we owe it to this new generation to respect their enthusiasm about virtual currencies with a thoughtful and balanced response, not a dismissive one." At the same time, he advised legislators to study cryptocurrencies and fight against scammers who use the credulity of inexperienced investors.

Now the head of the CFTC said that he did not expect such a big reaction of the cryptocurrency community to his speech: in addition to tens of thousands of new subscribers on Twitter, he had his own hashtag # CryptoDad.

I neither expected nor desired that a few words spoken during a Senate hearing broadcast on C-SPAN would lead to an Andy Warhol '15 minutes of fame.' Nor was I - or am I - a virtual currency evangelist.

Christopher Giancarlo

The Chairman, Commodity Futures Trading Commission

He also recalled that "get rich quick schemers" and "shady entrepreneurs" are common in the cryptocurrency sector, but that they are joined by "a growing contingent of professional, institutional users."

What I had acknowledged at that Senate hearing is the existence of a community that views technology as an agent of social change. Many of them have come of age during the 2008 financial crisis - the same crisis to which Bitcoin had emerged in response.

Christopher Giancarlo

The Chairman, Commodity Futures Trading Commission

Mister Giancarlo also reminded that the Commodity Exchange Act contains no reference to cryptocurrencies, so the law must be reinterpreted to fit new technology - assuming it is not revised by legislators. 

Bitfury to Unveil BTC's Lightning Network Tools

An open-sourced LN wallet, software and hardware payment acceptance solutions, etc
23 January 2019   77

Bitfury Group presented a number of tools designed to foster the development of the Lightning Network (LN), CoinDesk reports.

Among them: an open-sourced LN wallet, software and hardware payment acceptance solutions for merchants and payment processing. The company also introduced tools for developers and an open-source LN node called The Peach.

According to Bitfury representatives, all these tools are designed to make working with a second-level network easier and more convenient for companies and ordinary users. New products created by the Lightning Peach team.

By providing these products to the market, Bitfury is encouraging worldwide adoption of this technology and providing unparalleled support to consumers and merchants.

Valery Vavilov

CEO, Bitfury

Among other things, last week Bitfury added support for LN solutions on the BTCBIT cryptocurrency exchange.