CFTC is considering Bitcoin regulation
The CFTC is thinking about regulating Bitcoin and other cryptocurrencies. Ever since Bitcoin and other cryptocurrencies started gaining worldwide popularity and acceptance, there has been a debate going on about regulation. When bad news hits the fan, the cry for a legal framework is even bigger. Yesterday, we were happy to report that the state of New York is taking applications from enterprises that want to acquire their 'Bitlicense'. Today, it seems the world's leading economy is considering regulating it. Commodity Futures Trading Commission (CFTC) Acting Chairman Mark Wetjen has told....
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A commissioner with the Commodity Futures Trading Commission (CFTC), Dawn Stump, has voiced concerns about cryptocurrency regulation through enforcement — the approach taken by both the CFTC and the U.S. Securities and Exchange Commission (SEC).
CFTC Commissioner Stump on Crypto Regulation
CFTC Commissioner Dawn Stump has raised concerns regarding the approach her agency and the U.S. Securities and Exchange Commission (SEC) are taking to regulate the crypto industry. The commissioner is a vocal proponent of clarifying guidelines for crypto assets.
In an....
US financial regulators are considering the regulation of Bitcoin. Bart Chilton of the Commodity Futures Trading Commission (CFTC) told the Financial Times and Reuters that the organisation is 'seriously considering' regulation and 'if they wanted to', they could regulate it. Bitcoin is not a derivative and the CFTC only has a remit to regulate derivatives. But the US Treasury Department has already said that Bitcoin exchanges would come under existing regulations that prevent money laundering. While outcome of US regulation plans around bitcoin is still unclear, the fact that regulators....
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....
Two U.S. lawmakers have urged the chairman of the Securities and Exchange Commission (SEC) and the acting chairman of the Commodity Futures Trading Commission (CFTC) to establish a joint working group for the regulation of crypto assets. SEC and CFTC Urged to Collaborate on Crypto Regulation U.S. Representatives Patrick McHenry and Glenn “GT” Thompson sent a letter to SEC Chairman Gary Gensler and acting CFTC Chairman Rostin Behnam Monday regarding cryptocurrency. McHenry is the ranking member of the House Financial Services Committee while Thompson is the ranking member of the....
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....