TALLAHASSEE, Fla.—Florida’s chief financial officer has released a cryptocurrency regulation proposal that calls for the creation of a new post in Florida government for a cryptocurrency chief. But one person has dismissed it as a “campaign stunt.”
The plan put forward by Jimmy Patronis, who is running to be Florida’s chief financial officer, calls for someone to oversee cryptocurrency regulation within the state, and to be responsible for helping alert consumers to unscrupulous startups and conmen, Crypto Disrupt reported.
“We cannot allow the cryptocurrency industry to expand in Florida unfettered and unchecked with the potential for so many, including our large population of seniors, to be exploited,” claimed Patronis in an official release.
“Florida can no longer remain on the sidelines when it comes to cryptocurrency. I have directed my office to create a position that will oversee how current securities and insurance laws apply to Initial Coin Offerings (ICOs) and cryptocurrencies as well as shape the future of these regulations in our state,” continued Patronis.
Not everyone is convinced that this move will prove all that effective, said Crypto Disrupt.
Former state Senator and tech executive Jeremy Ring said was quoted by the publication as saying, “It seems like a campaign stunt. It’s not a market that can be regulated from Florida.”