Giancarlo, Clinton, CFO discussed on Let's Talk Bitcoin!

Automatic TRANSCRIPT

You chairman giancarlo an all love begin the questioning um first i will say i've had those dinner conversations with my own children and you're right of this is an incredibly interesting but doug growing new area of uh financial challenge particularly among our these might children and yours both of you have set in one way or another that neither of you neither of your agencies have complete jurisdiction over cryptocurrencies the question i have is whether you have sufficient jurisdiction and i'd like both of you to address that question should congress address revising and refining our financial law so that one agency or a group of agencies have complete jurisdiction or if you look at the jurisdiction of all agencies today do we have sufficient jurisdiction in place today german clinton well thank you and in my position you're always cautious about speaking for other agencies so i i thank you understood for saying that we should all come to is there to be very direct we should all come together the federal banking regulators cftc the sec there are there are states involved as well and have a coordinated plan for dealing with the virtual currency trading market um i think our main street investors look at these virtual virtual currency trading platforms and assume that they are regulated in the same way that a stock exchanges regulated at as i said it's far from that and i think we should address that issue so i am i hear you say that you don't think we need to have additional legislative authorities i think we may i think we may so first you should get together and tell us what you can and can't do and then us i think that's a very good way to put it center german giancarlo i i think that's exactly right the first step is to recognize where the gap is su the arrays as we both said in different ways the what we call the spot market for bitcoin is not a regulated marketplace now for us at the cfo.

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