Former CFTC Commissioner Bart Chilton backing crude token ICO OilCoin

Former CFTC Commissioner explained by professional Forex trading experts the “Former CFTC Commissioner” FX trading team.

Former CFTC Commissioner

In one of the most stark examples of “establishment” people jumping on the cryptocurrency bandwagon, former CFTC Commissioner Bart Chilton – one of the most recognizable faces and symbols of financial regulation – revealed this weekend that he is deeply involved in the ICO of a new token called OilCoin.

OilCoin plans to launch its ICO in January 2018.
As its name implies, OilCoin bills itself as the world’s first legally compliant cryptocurrency backed by oil reserves.

Each OilCoin will be supported by and represents the tokenized value of a single reserve barrel of oil. OilCoin stated that its tokenization of commodity value provides a safe haven from cryptocurrency volatility.

Post ICO, OilCoin intends to become an SEC registrant subject to periodic reporting requirements of the U.S. Securities Exchange Act of 1934.

Former CFTC Commissioner Conclusion

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