This week the United Nations held a Blockchain For Impact Summit at the United Nations Plaza, New York, NY. One of the keynote speakers was CFTC Commissioner Rostin Behnam. This is the second time this week that the head of a very prominent regulatory agency has spoken about blockchain technology and cryptocurrencies.
Quite surprisingly, BOTH of the regulators had incredibly upbeat prognostications regarding the future of cryptocurrencies and blockchain technology.
Yesterday we reported that SEC Chairman Jay Clayton specifically stated that blockchain technology held “incredible promise” and that Bitcoin would “replace the Dollar, the Yen, the Euro.”
It is difficult to imagine a more glowing review than provided by Chairman Clayton. And yet, it seems that Rostin Behnam, Commissioner of the CFTC has done just that by stating that “We are witnessing a technological revolution. Perhaps we are witnessing a modern miracle.”
“Replace the Dollar, the Yen, the Euro.”
“We are witnessing a modern miracle.”
These are statements you’d expect to hear from the most aggressive pitchmen of upcoming ICOs. But coming from the heads of both the Securities and Exchange Commission as well as the CFTC, that’s simply difficult to fathom. How much more of a glowing forecast could be expected?
How could they possibly be any more crypto-friendly, crypto-bullish than that?
It should be exceedingly clear that these two regulators have put a definite end to the idea that Bitcoin and cryptocurrencies are simply a fad and a bubble.
Two questions: 1) Are you paying close attention, and 2), Do you believe them?
You darn well should.
You can read Mr. Behnam’s entire speech to the United Nations by going to CFTC Commissioner Blockchain for Impact U.N. speech.