CFTC chair says the agency is "falling behind" on blockchain

The chairman of the Commodity Futures Trading Commission (CFTC) has said that his agency is "falling behind" on blockchain technology and that now is not the time for the agency's jurisdiction of the cryptocurrency market to be increased.

Speaking at a congressional hearing on Wednesday before the House Committee on Agriculture, addressing questions about the agency’s priorities and its work, Chairman J. Christopher Giancarlo said that the CFTC was limited in its ability to test and generate proof of concepts about emerging technologies and systems.

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