The US CFTC Chairman puts forward four major requirements for CFTC for technological changes such as blockchain and cryptocurrency

On May 8, the US CFTC official website released the testimony of the CTFC budget proposal submitted by CTFC Chairman J. Christopher Giancarlo at the hearing. According to Giancarlo, the CFTC's response to rapidly changing market and technological changes, including decentralized blockchains and cryptocurrencies, is based on four important components: 1. Using “exponential growth thinking” to predict the rapid development of technological innovation and The need for appropriate regulatory responses; 2. Be a “quantitative regulator” that enables independent market data analysis across different data sources, including decentralized blockchains and cryptocurrencies, without relying on self-regulatory organizations and markets Intermediaries; 3. Use “market-based solutions” to determine the value of technological innovation; 4. Establish an internal FinTech stakeholder to address the opportunities and challenges presented by FinTech.