CryptoDad

Chapter 12The Road Goes On

Speed has never killed anyone.

Suddenly becoming stationary, that's what gets you.

—Jeremy Clarkson (motoring writer and broadcaster), Top Gear

What Next?

A few days after the Senate Banking Committee Hearing in February 2018, I called a meeting of our virtual currency task force. I reviewed the issues raised in the Senate hearing and complimented them for their work. Following the launch of Bitcoin futures, I wanted an update on three ongoing work streams: improving our own knowledge of virtual currency, educating consumers, and enhancing enforcement.

All three were proceeding apace. LabCFTC was continuing its public engagement, with an upcoming visit to Silicon Valley and numerous scheduled meetings with virtual currency trading platforms. Meanwhile, our Office of Consumer Education Outreach was producing advisories and pamphlets and partnering with the US Consumer Financial Protection Bureau and the American Association of Retired Persons for a series of education initiatives. Finally, our Division of Enforcement's Market Surveillance Branch was analyzing new Bitcoin trading data. In January alone, it had filed three virtual currency enforcement cases against fraudsters.

That evening, I slipped out of the office, strode through the back alley, headed south on 20th street to the corner with “Eye” Street. There I entered Aperto Restaurant and took a table in the back. A few minutes later, Clayton joined me. We greeted each other warmly. He complimented ...