Christopher Giancarlo: Crypto’s Advocate in DC

Christopher Giancarlo is the former chairman of the U.S. Commodity Futures Trading Commission and founding principal of the Digital Dollar Foundation, a group that supports the U.S. adopting a digital currency.

This episode is sponsored by Quantstamp.

Giancarlo has written a book and he came on our “Money Reimagined” podcast recently to talk about it. The book is called “Crypto Dad,” which is a nod to the affectionate nickname that members of the crypto community started giving Chris when, as head of the CFTC, he made some regulatory moves that were seen as constructive to the industry, such as the approval of bitcoin futures, which was a contentious move at the time.

The book is packed with inside-the-Beltway insights into the sausage-making behind regulation. It’s also a great primer for understanding the challenges that the U.S. faces as the technology around money goes through a dramatic transformation.

And it makes a very strong case for the federal government to act proactively to support crypto technology in a way that preserves core U.S. values.

It’s timely because right now the regulatory conversation around crypto is front and center. Just last week, the first bitcoin futures exchange-traded fund was launched after the Securities and Exchange Commission gave it the green light after years of resistance to launching a bitcoin ETF that holds physical bitcoin. Ironically, the ETF version the SEC approved is focused on bitcoin futures, a product Giancarlo’s CFTC set in motion.

But if that sounds like the SEC is now seen as a friendlier force by the crypto community, think again. Many view with concern the rather harsh tone the current SEC chairman, Gary Gensler, has taken with the industry.

There’s a lot at stake here. Not just for investors but for geopolitics, too.

This episode was produced and edited by Michele Musso with announcements by Adam B. Levine and additional support by Eleanor Pahl. Our theme song is “Shepard.”