Chris Giancarlo was the former chairman of Commodity Futures Trading Commission. (CFTC). He is known to some as Crypto Dad. He called the current U.S. regulations, many of which were written in the 1930s, “nonapplicable” to the current financial reality of cryptocurrencies.

Giancarlo was concerned that central banks could be stealing crypto. “If you read the utterances out of the European Central Bank, there is nothing but FUD toward non-sovereign crypto,” he said, noting that China took the same approach when it banned all cryptos except the digital yuan CBDC.