CNBC said Obama needs to embrace Bitcoin soon

CNBC said Obama needs to embrace Bitcoin soon

obama_embrace_bitcoin
According to a CNBC writer President Barack Obama needs to embrace Bitcoin soon.
In fact, some days ago Barth Chilton, former commissioner of the Commodity Futures Trading Commission (CFTC) and senior policy advisor at the global law firm DLA Piper, wrote that the Obama administration should now move on bitcoin and the blockchain. 
Chilton explained as the blockchain technology can be a great economic value for the U.S.A. so Obama should heed the call on Bitcoin. 
Chilton commented:

“Without some proactive steps, such as a Self-regulatory Organization (SRO) and/or word from on high by the president, the U.S. could lose out on what are potentially enormous economic benefits.”
Chilton worked as a commissioner between 2007 and 2014, and he wrote a book titled “Ponzimonium: How Scam Artists Are Ripping Off America.”
In his article, Chilton explained that Obama should pay attention to Bitcoin because a lack of interest on it could let “U.S. lose out on what are potentially enormous economic benefits”. 


Huge Opportunities

There are 15.5 million bitcoins and the digital currency has a market capitalization of nearly US$7 billion, so Chilton explained how important is embracing bitcoin and digital currencies right now. 
“There is a huge opportunity that can be tapped into if US government officials and industry thought-leaders establish an appropriate balance between basic consumer protection regulation and an openness which not only permits, but fosters and promotes, innovation”, he wrote. 
Also, Chilton compared what U.S.A. did with Internet to what this country can do with Bitcoin, by saying:

“We did it with the internet — and we need to do it now with virtual currencies like bitcoin”.


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Amelia Tomasicchio
Amelia Tomasicchio

Amelia Tomasicchio is a content writer and marketer of Bitcoin-related news and fintech startups. She started writing about Bitcoin in 2014 and she graduated in Rome with an essay about movie industry related to Bitcoin.

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