US Watchdog Formed Task Group on Blockchain and Cryptocurrency

March 20, 2018

The US Federal Trade Commission (FTC) has claimed to create a working group that will be in charge of studying possible effects the technology and cryptocurrencies may produce over the Commission and the purposes and objectives it sets.

“We believe this working group is an important step to ensure the FTC can continue its missions to protect consumers and promote competition in light of cryptocurrency and blockchain developments”, said the FTC’s chief technologist Neil Chilson.

The purpose of the group is qualifying employees in the issues of cryptocurrencies and blockchain through own resource sharing and attracting external designers. The group is aimed at improving collaboration and communication while taking various coercive measures both inside and outside the Commission.

FTC first turned its attention to cryptocurrencies in 2015 when filed a suit against application with hidden mining. Posted in February this year a message at the FTC’s official site warned investors and common citizens against cryptocurrency risks.

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