CFTC Commissioner: Agency Should Revisit Rules for Distributed Ledgers
Commissioner J Christopher Giancarlo of the Commodity Futures Trading Commission (CFTC) said today that he believes the government agency should reexamine existing rules as necessary to foster innovation with blockchain technologies. Giancarlo’s remarks on the possibility of revisiting CFTC regulations in light of new blockchain applications came as part of a keynote address at the DTCC Blockchain Symposium today, in which he discussed his view on the implications of blockchain and distributed ledgers for regulators. Evoking comparisons to the Internet, Giancarlo went so far as to suggest....
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A commissioner of the Commodity Futures Trading Commission (CFTC) has spoken about the inadequacies and inefficiency of the current "closed ledger" banking system. He adds that distributed open ledgers could revolutionize financial ecosystems while noting certain "disruptive" implications for the current financial industry and those who are a part of it. Commissioner J Christopher Giancarlo spoke about bitcoin and the blockchain in a wide-ranging lecture on Fintech and international finance at the Harvard School of Law on December 1st. In a guest lecture that began with a disclaimer that....
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....
"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....
There has always been a question of whether blockchain startups should worry about regulation before or after launching their business. Given how the regulatory outlook on the blockchain is in a grey area right now, something has to change to make things clearer moving forward. Various regulators around the world are concerned as to how the CFTC might look to hamper the growth of development and innovation in the world of blockchain technology. However, CFTC Commissioner J. Christopher Giancarlo seems to be quite keen on the concept of distributed ledgers himself, as he seems to be in....
A commissioner at the Commodity Futures Trading Commission (CFTC) has asserted the agency has the authority to take enforcement actions against price manipulation in bitcoin markets. Commissioner Mark Wetjen made the remarks at a bitcoin conference held at Bloomberg in New York on Monday. When asked if the CFTC has the authority to become intervene in such an event, he said: "It has not been tested, but I do believe we have the authority because bitcoin, by I think a very rational reading of our statute, classifies as a commodity and the definition of a commodity under the Commodity....