2 years ago
The president of the Commodity Futures Trading Commission (CFTC) says his bureau and the Securities and Exchange Commission (SEC) “have to trust connected 70-year-old lawsuit instrumentality to find what’s a information oregon a commodity.” He stressed that the SEC and CFTC are moving unneurotic to modulate the crypto space, noting that “It’s not a turf war.”
CFTC Chairman connected Crypto Regulation, Working With SEC
Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam talked astir cryptocurrency regularisation successful an interrogation with CNBC past week.
Responding to a question astir whether the CFTC gets on with the Securities and Exchange Commission (SEC) and whether the 2 agencies stock resources to modulate the crypto sector, helium affirmed:
We bash get along. We tin share, we person shared, and we volition share.
“For the CFTC, the trouble is we are a derivatives regulator. We don’t oversee the currency markets. So, the authorization that I’ve been asking Congress for is currency authorities, truthful that we tin spell successful the bitcoin currency market, the ether currency market, and the different integer commodity token [markets],” the CFTC main explained.
Commenting connected SEC Chairman Gary Gensler stating that the bulk of crypto tokens retired determination are securities, Behnam stated: “Well, we’re gonna person to fig that retired legislatively due to the fact that it’s a caller plus class. There are antithetic components and characteristics of this plus people arsenic opposed to accepted plus classes.” The CFTC brag described:
We person to trust connected 70-year-old case-law to find what’s a security, what’s a commodity.
“We person 1 tribunal lawsuit successful New York that says bitcoin is simply a commodity … We’re trying to find a tenable result that volition make certainty for the market,” helium concluded.
Behnam besides stressed that “it’s not a turf war” betwixt the 2 regulatory agencies.
SEC Chairman Gensler besides antecedently said that the 2 regulators are moving unneurotic to modulate the crypto sector. While Gensler admitted that bitcoin is simply a commodity, helium said past period that “Of the astir 10,000 tokens successful the crypto market, I judge the vast bulk are securities.”
Last month, the SEC announced that it is mounting up a dedicated office to reappraisal crypto filings. Gensler besides said that helium has asked SEC unit to fine-tune crypto compliance.
What bash you deliberation astir the comments by the CFTC chairman? Let america cognize successful the comments conception below.
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