CFTC to regulate bitcoin

Hi Jeffrey, Joi,

Bryan (CC'd) is doing some work looking at how CFTC is trying to regulate bitcoin options trading. See his note to me below:

"""so, CFTC is making a decision by the end of the month about whether to regulate bitcoin for options trading- and we need them to say yes... but they are presently confused about Jamie Dimon's comments saying bitcoin is irrelevant, only blockchain matters.

so to this end we are drafting an open letter that says why bitcoin matters and why database tech isn't the goal here and I am passing around to core devs https://docs.google.com/document/d/1GpcLG-9PrK8Z6ZPIOQ-u1VDEIC1cqlhOXvNiCmjHkDSg/edit#heading=h.m151wtu6dr44 the draft letter: do you think Have you talked with Jamie about this stuff at all? Are there advantages to trying to stay unregulated?

My hunch is that regulation is bad, but option trading is good. Bitcoin accepting companies suffer because they can't stomach the volatility without options. Are there workarounds to get the best of both?

Best,

Jeremy

-- @JeremyRubin https://twitter.com/JeremyRubin https://twitter.com/JeremyRubin