Bitcoin seems to be testing politicians across all aisles.
In fact, even members of the U.S. political party known for its broad opposition to regulation have been embracing the idea the market needs greater oversight, according to former Commodity Futures Trading Commission (CFTC) commissioner Bart Chilton.
And Chilton has the experience that would make him a credible source.
In his role at the CFTC, Chilton was known for his aggressive stance against fraud and was among the first regulators to openly talk about the potential need to regulate bitcoin. Indeed, as far back as 2013, Chilton had begun considering the need for government oversight of cryptocurrency. As a possible nod to Chilton’s concerns, just a year after his final term ended, the CFTC officially deemed bitcoin a commodity.