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Banks will trade cryptocurrency sooner than people think, says fmr. JPMorgan blockchain executive


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Everyone complains about the lack of regulation, so when is something going to be done about it already? 


Kate Rooney | @Kr00ney Published 23 Hours Ago

"I think it's coming sooner than people probably think," Amber Baldet, Former head of J.P. Morgan's blockchain arm told CNBC's "Power Lunch" Friday. "But even where the will is, the legal and regulatory framework is challenging."


U.S. regulators say they don’t have enough power over cryptocurrency exchanges

By Brian Fung February 6

“We may be back with our friends from Treasury and the Fed to ask for additional legislation,” Giancarlo said Tuesday in testimony before the Senate Banking Committee. He added that the federal government is still studying how cryptocurrencies differ from traditional investments — in some cases appearing to function as a security like stocks, while at other times as a commodity like gold, and at still other times as a conventional currency like the dollar.

The two chairmen, along with a number of lawmakers, acknowledged the potential benefits of cryptocurrency and cautioned against regulating the technology too harshly. Giancarlo even suggested that cryptocurrency's underlying technology, blockchain, could have helped avert the 2008 financial crisis by giving regulators the ability “to do real close market surveillance,” in real time, of problematic transactions between lenders and borrowers.

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"sooner than people think" is a total nothing statement, because what "people think" could be 500 years, or 10 years, or 10 weeks

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