Alex Osipovich
speaker
74 appearances
1 recordings
1 series
first heard Dec 2017
last heard Dec 2017
Alex Osipovich’s voice in public audio — every appearance, attributed to the second.
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Appearances
It has a smaller staff than any of the other financial regulators out there.
And the SEC, which is probably better known to most people out there because it regulates the stock market, has been more skeptical of Bitcoin.
Earlier this year, it denied a Bitcoin ETF application.
After that, Bitcoin fanatics all kind of turn their longing eyes to the CFTC, hoping for some regulatory love.
The CFTC has said for the past couple of years that it views Bitcoin as a commodity, meaning that legally, in the eyes of the CFTC, it's similar to crude oil or soybeans or gold.
And this is basically kind of a logical step in the evolution of the CFTC's thinking about Bitcoin.
But yeah, broadly, I would say that the government as a whole is maybe warming up a little bit to Bitcoin and different factions of it and different officials within it are friendlier than the others.
I think that it's safe to say that at the CFTC, they're relatively pro-Bitcoin.
Yeah, yeah, there was some tinkering done.
The main thing is that
essentially Bitcoin trades in these kind of underlying exchanges, which are all kind of, you know, startup type companies that are only a few years old.
And there are places where people who hold bitcoins can get together and buy and sell them and they help figure out what the price is.
The futures market kind of sits on top of that.
And for CME, for example, to launch its Bitcoin futures, it needed to partner with some underlying exchanges.
So they basically figure out what is the price of Bitcoin.
And then its futures contract will track that price.
The problem is that these underlying Bitcoin exchanges, there's a history of a lot of dubious activity happening on them.
They tend to be very volatile.
They go down sometimes.
They have flash crashes.
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