cryptoknowmics.com
Giorgio Jackson, a Chilean opposition party deputy leader recently revealed holding a ‘small portion’ of the world’s second-largest cryptocurrency Ethereum (ETH), despite calling himself a “crypto skeptic.”
Chilean Deputy Leader is an Ethereum Holder
In an event held by Buda crypto exchange named “Bitcoin and cryptocurrencies: opportunities and challenges,” the deputy of the Chilean opposition Democratic Revolution political party, Giorgio Jackson revealed that he holds an undisclosed amount of Ethereum (ETH).
Calling himself a “crypto skeptic”, he asked for the nascent asset class to be formally recognized as an asset but is not in favor of declaring them as legal tender as followed by the Central American country El Salvador.
He did, however, argued for the need to make traceability a priority for fraud-fighting measures, consumer protection, and the ability to “carry out traceability” tests in cases of possible tax avoidance or criminal activity. Doing so will bring ethics and transparency that have otherwise brought only a bad light to the industry.
Urging for Chilean Fintech Law
Slow validation times, volatility, and issues of energy consumption have prevented mainstream crypto adoption, according to him. Addressing such issues would be difficult, because “the cure can be worse than the disease” in some cases.
Regardless, “innovation and technology” coupled with fintech and crypto-related legislation are needed “as soon as possible” so that consumers are protected against volatility, hefty trading costs among other factors: