CFTC chair: we need to respect new generation's enthusiasm for digital currencies

posted 12 months ago
During Tuesdays Congressional hearing which addressed Bitcoin, the Chairman of the Commodity Futures Trading Commission was directly asked about virtual currencies.

He said he sees Bitcoin primarily as a commodity, a long term store of value, and went on to directly mention the term "HODL". He then said that Bitcoin is also used as a currency, a medium of exchange.

He further said, "We owe it to this new generation, to respect their enthusiasm for digital currencies with a thoughtful and balanced response, not a dismissive one"

He also mentioned the Blockchain and distributed ledger technology, specifically that it has a wide range of applications from charities to banking.
Tags: bitcoin, opinion