The chairman of the CFTC, that is to say, the Commodity Futures Trading Commission, is out of the silence to comment on and to decrypt the craze of young generation towards the crypto-currencies. According to him, it is essential to understand this trend and, most importantly, respect.
Of the about interesting
Christopher Giancarlo directs the Commodity Futures Trading Commission since August of 2017 and interest is very close to crypto-currencies. In the framework of a conference organised this week in Los Angeles, he returned to this subject that is controversial, and, in particular, on the success of the crypto-assets won among the young generation in the world : “We need to reflect for a moment, and respect the interests of this generation for this new instrument. Not with contempt, but with a little attention and respect, and we need to put in place policy initiatives truly thoughtful and future-oriented. “
Couldn’t get to California for @MilkenInstitute’s #MIGlobal? Check out the #FinReg panel, feat. @giancarloCFTC!https://t.co/CwenO0wyGN
— CFTC (@CFTC) May 1, 2018
A cultural change
According to him, this is a cultural change that is at the root of this success, which seems surprising for the oldest. The younger generations have indeed evolved in a context of economic crisis, and have more confidence in traditional financial institutions. It is therefore a context that is at the origin of this popularity : “It is happening here, something generational. Just as the baby-boomer generation has lost confidence in the leaders who have gone before, and attempted to put in place a cultural change through the sex, drugs and rock and roll, I think that this generation has lost trust in us due to the financial crisis, and that she sees this technology as a means of getting institutions to which she devotes not a lot of respect. “
Pixabay The Digital Artist / cultural change and the economic crisis would be the origin of the craze of young generation for crypto-currencies.
Christopher Giancarlo remains sceptical about the future of crypto-currencies and the influence they will have in the economic system, but it seems convinced that it is absolutely necessary to adhere to the craze of the young generations.
Source : Reuters