CFTC Commissioner Rostin Behnam: Statement
The following is an excerpt from Mr. Behnam's statements at the event “Fostering Open, Transparent, Competitive, And Financially Sound Markets” at United Nations Plaza, New York, NY on June 4, 2018.
"The debate on virtual assets is just beginning. None of us know where it will end. But it has forced us to rethink. We have learned that virtual assets respect no borders. Regulation is often behind the curve, unable to keep up with daily developments. At least the developments we know about. As a result, some countries have outlawed virtual currencies. Others have new, strict laws to control them. Many countries simply don’t know what to do. Their policy is bewilderment. Or avoidance. And, some countries think virtual currencies are only a problem for developed countries like Switzerland, or Germany, or Singapore, or the United States.
But virtual currencies may – will – become part of the economic practices of any country, anywhere. Let me repeat that: these currencies are not going away and they will proliferate to every economy and every part of the planet. Some places, small economies, may become dependent on virtual assets for survival. And, these currencies will be outside traditional monetary intermediaries, like government, banks, investors, ministries, or international organizations.
We are witnessing a technological revolution. Perhaps we are witnessing a modern miracle (emphasis added)."
Full Statement: https://www.cftc.gov/PressRoom/SpeechesTestimony/opabehnam7
I see no need to offer commentary on this. The message is clear and speaks for itself.
I have never seen a such clear and to the point statement coming from a Govenment Agency. The doors are opened. Let's see who will be able to close it or to try to close it. Thanks, my friend.
Yes. Please send me a direct message Ronaldo - I have something to discuss with you.
You should have my discord - but again here it is - HonorableJn7#4854
It is certainly true that virtual currencies such as the cryptocurrencies will inevitably become part of our economies. It won't long for humanity to vibe with virtual currencies and perform paperless transactions. Decentralised systems are the real game changers in this generation.
Very good post @john-robert, this information is very useful for us all. And especially for myself, talking about virtual currency, I've read there are some countries that already support the virtual currency. But you say that some countries consider virtual currency only a problem for developed countries like Switzerland, or Germany, or Singapore, or the United States. I do not know about it, I think, it will have a bad impact for developed countries, so they do not support virtual currency. But what will happen? Thank you for sharing this very helpful information, and hope you have a wonderful day... :)
there is the possibility that some developed countries think crypto is part of the destruction of state assets, in terms of interest, taxes and some other market shares that are not contained in the crypto,
this performance is run by a big man in a country who wants to take profit as much as possible.
Thanks @john-robert
nice comment - by state assets do you mean Sovereign Nation Wealth? In the contemporary form mostly debt instruments.
Hey, @john-robert Really great work my dear friend and I am glad to seen your daily post .many many thanks for sharing with us your important post.
A revolution indeed, irrespective of the fact that some governments are serious fighting to keep ecurrency abay from their countries it will still reach them, there nothing that the can do about it, it is high time we embraced it already.
Thank you for your continued support of SteemSilverGold
Thank you dear friend.
Virtual investments would definitely push aside other form of investments as many countries are accepting it more and more.
Africa are accepting the new development more and more too.
I'm enjoying it..
Please, I want to learn more about bitshere, I want to explore it too
Thank you very much for these information and for the link I have read the full post. Be careful my dear friend @cheetah gave u warning.