The HSBC spokesman appealed to CFTC to express a favorable opinion of the blockchain technology which will contribute to the best adoption of DLT by major companies.
According to the head of the department, Jesse Drennan, the adoption of technology is taking its course. However, in the industry, there is a certain level of uncertainty to how the regulator relates to DLT.
A lot of companies, before launching projects, strictly assess the position of the regulator and regulatory standards accepted by the industry. If CFTC makes an effort to “make some positive noise”, they will quickly enter the crypto field.
ATBCoin Team’s Opinion
This is quite true. Speaking at the Crypto Papa Congress in 2018, the head of CFTC, Christopher Giancarlo, actively supported the technology, which reduced volatility and contributed to the development of the cryptocurrency market.
The current goal is to explore areas in which over-regulation by CFTC hinders the adoption of technology, as well as those areas in which reasonable regulation can provide positive dynamics.