Former Commodity Futures Trading Commission (CFTC) official Fred Hatfield criticized the negative statements made about cryptocurrencies, emphasizing that fraudsters actually prefer the dollar the most. Hatfield stated that claims that cryptocurrencies are heavily used in financial crimes are untrue and said that such statements are unfair to both crypto companies and investors.
Hatfield also stated that cryptocurrencies will continue to exist in the future and therefore need to be properly regulated. Emphasizing that a regulatory approach that focuses only on sanctions will hinder innovation in the US and lead to job losses, Hatfield reminded that the CFTC's sanction decisions in the crypto area are at a significant level and stated that such crimes constitute only a small part of illegal activities around the world.
