CFTC renewed: What Biden’s new agency picks hold for crypto regulation
The three officials tapped by the Biden administration for CFTC roles come with promising crypto credentials, but can they live up to the promise? On Sept. 14, United States President Joe Biden revealed his picks to fill two vacant seats at the United States Commodity Futures Trading Commission (CFTC). In addition, the president nominated Rostin Behnam, who has run the derivatives regulator as acting chairman since January, to assume the office on the permanent basis.The appointments are unlikely to face serious obstacles on their way to confirmation, as nominees will have to secure a....
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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....
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....
The US Commodity Futures Trading Commission (CFTC) has issued its first action against an unregistered bitcoin options trading platform, ordering the startup to cease operations and simultaneously settling the case. The CFTC charged San Francisco-based startup Coinflip Inc, which does business under the name Derivabit, and CEO Francisco Riordan with conducting activity related to commodity options, without registering with the agency or meeting rules for exemption. With the ruling, the CFTC has also confirmed that bitcoin and other digital currencies are commodities covered by the....
The chairman of the Commodity Futures Trading Commission (CFTC) says his agency and the Securities and Exchange Commission (SEC) “have to rely on 70-year-old case law to determine what’s a security or a commodity.” He stressed that the SEC and CFTC are working together to regulate the crypto space, noting that “It’s not a turf war.”
CFTC Chairman on Crypto Regulation, Working With SEC
Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam talked about cryptocurrency regulation in an interview with CNBC last week.
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"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....