SEC regulator Defends Bitcoin Expert

Damon Silvers, head of the most powerful trade union federation in the U.S., railed against bitcoin and directed sharp criticisms toward at least one panelist who was representing the blockchain industry.

But a regulator at the Securities and Exchange Commission (SEC) criticized him for denigrating the bitcoin expert. This is how earlier this week SEC Commissioner Michael Piwowar blamed Damon Silvers, the AFL-CIO’s policy director, for having an aggressive posture in a recent meeting of the SEC’s Investor Advisory Committee.

Regarding Silvers’ conduct, Piwowar stated at the committee’s December meeting:

“This committee is not a Hyde Park soapbox for demagoguery and tub thumping. Nor is it an inquisitorial star chamber.”

As a final note we should avoid reading too much into the incident because Republicans and union officials rarely see eye-to-eye. Thus, it would not be surprising if Silvers and Piwowar have had spats before. However, it’s a testament to the emergence of the cryptocurrency industry. It seems that over time what Silvers did will gradually become the exception, not the rule.

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