We Don't Have to be 'Enthusiastic to Maintain Speed' with Fintech, said the CFTC Commissioner

A new commissioner at the US regulator of the Commodity Futures Trading Commission (CFTC) repeatedly called for handling fintech - including blockchain and cryptocurrency - with "open mind" in a speech on Thursday, October 25.

Speaking at the 2018 Japan Swap and Derivative International Conference (ISDA) in Japan, in Tokyo, Rostin Benham, who has held a year-long position, said he had spent a lot of time focusing on issues related to disturbing ftech.

"I was surprised by the amount of time I spent examining issues related to bitcoin, crypto assets, ledger (DLT) technology distribution, artificial intelligence, and cloud-based programming," he told the audience.

Benham also spoke with various cases of potential users for DLT, such as blockchain, a list of ranges "from agriculture to health, finance to art, CryptoKitties to Dogecoin.

Calls for fair handling of disruptive technology also came from other money regulators. As reported by the Cointelegraph this week, the chairman of the US telecom regulator defended the need for "level playing fields" for phenomemes such as blockchain in the future.

Preventing the importance of this phenomenon marked a further key focus for Benham, who added about his involvement with the crypto, DLT and Al sectors:

"I have no one goal in mind, just a desire to avoid being a typical regulator at the tail end of technological progress, rushing to follow fast innovations that capture market efficiency, open markets for new products and participants, and often reward them for taking risks. "

Both the CFTC and other US Securities and Exchange Commission (SEC) regulators have increasingly found themselves in the spotlight on the cryptocurrency industry this year.

The latter, after rejecting the raft of applications for the Bitcoin exchange-traded fund (ETF) in August now communicates with prospective operators who are trying to vacate agency concerns about their offer.