CFTC Chairman Strikes Bullish Tone Before Senate, Bitcoin Price Rises

Chairman Giancarlo of the Commodities Futures Trading Commission (CFTC) testified before a US Senate committee today, speaking on the subject of cryptocurrency regulation. He took a similar tone as he and SEC Chairman Clayton did last week at a similar hearing, calling for “carefully tailored” regulations of cryptocurrency exchanges. Giancarlo went on to discuss ways Blockchain could be transformative in important US industries. The market took his words well, with Bitcoin rising from $9,500 to $10,200 during the day.