There’d Be No DLT Without Bitcoin, Says CFTC Chief
"It's important to remember that if there were no bitcoin, there would be no distributed ledger technology," Giancarlo told a U.S. Senate committee.
It is unclear who will helm Bakkt after CEO Kelly Loeffler joins the U.S. Senate on Jan. 1.
The U.S. Senate Banking Committee will hold a hearing next month on Facebook's new cryptocurrency, Libra.
Bitcoin has dropped back from levels near $7,000 despite the rapidly increasing scope of fiscal stimulus efforts in the US and across the globe.
DarkTower director Scott Dueweke said cryptocurrencies are "tailor made" for foreign powers hoping to influence American elections.
The head of the CFTC told lawmakers Thursday that any federal approach to crypto regulation should be "carefully tailored" to the risks involved.