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CFTC President J. Cryptodad Giancarlo will retire after the end of his term in 2019

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The highest market regulator in the United States has confirmed that he will retire on the expiry of his tenure in 2019, depriving the industry of the cryptocurrency of the United States. One of the friendliest voices of the Washington establishment.

Speaking of the IFLR financial publication at the Annual General Meeting of the International Association of Swaps and Derivatives (ISDA), the Chairman of the Commodity Futures Trading Commission (CFTC) J. Christopher Giancarlo confirmed his intention to retire. than to request a renewal of mandate.

Giancarlo has recently become a favorite among cryptocurrency enthusiasts because of his open approach to the ecosystem, which contrasts sharply with the hostile positions adopted by many regulators.

As CCN reported, Giancarlo received the nickname "Cryptodad" after a Congressional hearing in which he recounted an opening statement that explained how crypto-currencies had made his children and his niece wanted to invest for the first time.

"It seems to me that we owe it to this new generation to respect its enthusiasm to respect its enthusiasm for virtual currencies with a thoughtful and balanced response, not disdainful," he said.

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Obama's appointee – who may be the first person to use the term "HODL" at a Congressional hearing – also tweeted on cryptocurrency several times, to the dismay of critics who argue that it should take no cryptocurrency action like asset class.

Under Giancarlo's mandate, the CFTC oversaw the creation of the country's first two Bitcoin regulated futures products, launched in December on the Chicago CBOE and CME stock exchanges. Despite the apocalyptic predictions of critics, these products have been trading in an orderly manner and have seen a slight increase in the volume of transactions since they were registered.

The CFTC has also played an active role in monitoring cryptocurrency frauds, and the agency will likely break its record of market manipulation lawsuits in a single fiscal year.

Giancarlo's term officially expires on April 13, 2019, but he says he will continue to hold office until President Trump appoints a successor.

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