‘We Need to Respect This Generation’s Interest’ in Bitcoin: CFTC Chairman

The chairman of the Commodity Futures Trading Commission (CFTC) said this week that cryptocurrency is a generational interest and that regulators need to treat it with respect. J. Christopher Giancarlo, who was sworn in as a CFTC commissioner in 2014 and has led the commission since August 2017, shared his thoughts on cryptocurrency regulation at the Milken Institute Global Conference, which took place this week in Los Angeles. “We need to take a moment and respect this generation’s interest in this new instrument (bitcoin),” he said, according to a Reuters report. “Not with derision, but with a little bit of attention and respect and respond with policy initiatives that really are thoughtful and forward looking.” Giancarlo — who says he will retire after his five-year term ends next April and President Trump appoints a successor — compared consumer interest in bitcoin to the “cultural change” that the baby boomers instituted…

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