SEC Has No Authority Over Pure Commodities Like Crypto Assets, Says CFTC Comm...
Both the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have claimed jurisdiction over the crypto industry. A CFTC commissioner clarified that pure commodities, including crypto assets, or their trading venues are not regulated by the SEC. Regulation of Crypto Assets by SEC and CFTC A commissioner with the U.S. Commodity Futures Trading Commission, Brian Quintenz, clarified Wednesday that pure commodities, including crypto assets, fall under the jurisdiction of his agency. He tweeted: “Just so we’re all clear here, the SEC has....
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Former CFTC chairman Christopher Giancarlo argued that the CFTC is the only U.S. regulatory agency that has experience regulating markets for Bitcoin and crypto. Amid the United States Securities and Exchange Commission (SEC) expanding the scope of oversight of the cryptocurrency industry, a commissioner with the Commodity Futures Trading Commission (CFTC) argued that crypto regulation doesn’t fall under the SEC’s jurisdiction.CFTC commissioner Brian Quintenz took to Twitter on Wednesday to declare that cryptocurrencies like Bitcoin (BTC) should be regulated by the CFTC rather than the....
"A trading platform that offers derivatives on digital assets to U.S. persons without registering, or in violation of CFTC trading rules, is subject to the CFTC’s enforcement authority," said Dawn Stump. Dawn Stump, one of four commissioners currently serving at the Commodity Futures Trading Commission, or CFTC, has released a statement clarifying the agency's authority with respect to digital assets. In a Monday statement, Stump said the CFTC is empowered with both regulatory and enforcement authority for commodities. She did not specifically say that digital assets were cash-like....
Jared Marx is an attorney at the Washington, DC law firm of Harris, Wiltshire & Grannis. He advises companies about bitcoin-related regulatory law, and represents companies and individuals in civil and criminal proceedings. Mark Wetjen, a commissioner at the US Commodities Futures Trading Commission (CFTC), has made it known loud and clear recently that bitcoin fits the legal definition of a commodity and that the CFTC has authority to regulate the digital currency. So what would the CFTC's regulation of bitcoin actually look like? For the average bitcoin user and business, probably not....
The US Commodity Futures Trading Commission (CFTC) has announced that it is investigating whether it has the authority to regulate bitcoin and other digital currencies, Reuters reports. "We are looking into that," Mark Wetjen, the CFTC's acting chairman, said at an industry conference. "It's been initiated, there's been an internal discussion at the staff level." The CFTC, which regulates the swaps and futures market, is studying whether bitcoin falls under the same rules as commodities markets, according to Wetjen. He said: "I think people [within the CFTC] believe there's a pretty good....
A commissioner with the U.S. Commodity Futures Trading Commission (CFTC) has detailed how crypto assets are regulated in the U.S. and whether they fall under the jurisdiction of the CFTC or the Securities and Exchange Commission (SEC). “There has often been a grossly inaccurate oversimplification” of how crypto assets are regulated in the United States, said the commissioner.
How Crypto Assets Are Regulated in the US
CFTC Commissioner Dawn D. Stump clarified last week how crypto assets are regulated in the U.S. by the CFTC or the SEC.
“The recent....