Former regulator ‘crypto dad’ back with plans for digital U.S. dollar
The former regulatory chief has announced plans for the “Digital Dollar Project,” a group to help with the digitization of the U.S. dollar.
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Christopher Giancarlo, affectionately known as “crypto dad” for his accepting comments to the industry while he headed the U.S. Commodity Future Trading Commission, is back.
The former regulatory chief has announced plans for the “Digital Dollar Project,” a group to help with the digitization of the U.S. dollar.
While the project is a private venture, it comes in tandem with governmental interest, as I wrote in previous newsletters:
The U.S. Federal Reserve is now taking the concept of an official dollar stablecoin cryptocurrency seriously, as China pursues that path, threatening to dominate the sector with a potential first-mover advantage.
China is all about exploiting voids left by the United States, wherever it sees them
2020 will be the year of the anti-Bitcoin. Amid increasing regulation, we will likely see more players enter the race to create a digital currency by a country or big company, with a stable price and controllable by a central authority.
Price: Potential drop ahead amid market indecision
Amid an indecisive market, Bitcoin could be in for a drop to $8,200-levels if it breaks significantly below the current price, technical analysis suggests. Bitcoin is at $8,654 (C$11,309) as of noon Sunday, Eastern Time, up 5 per cent in a roaring week, in which the currency almost touched $9,000.
Canada: securities regulators come for exchange platforms
New guidance from the umbrella group for Canadian securities regulators indicates many of the country's crypto exchanges will fall under their purview.
The move came after a slew of exchange platforms in Canada have collapsed, owing millions, the most notable of which was Vancouver’s QuadrigaCX, and has been in the works for some time.
Those platforms have long existed in a legal grey area. When I last spoke to the head of the British Columbia Securities Commission, Peter Brady. he said sometimes, there is little his body can do:
Brady urged investors to be cautious, saying, “Before we can protect investors, we have to have jurisdiction, and that varies case to case.”
News: Bitcoin creator-claimant Wright is wrong — again
The self-proclaimed Bitcoin inventor Craig Wright, the Australian ordered to surrender half his alleged cryptocurrency after a U.S. civil trial, has long said a “bonded courier” is supposed to deliver him this year the digital keys to access billions in digital assets. That has turned out to be hogwash, according to the opposing lawyers in the trial, which is not directly related to Wright’s claim to be Satoshi Nakamoto. What the courier delivered is only a list of public addresses, the lawyers said, casting further doubt on Wright’s claim.