Why Crypto Regulation Puts CFTC In Crosshairs With SEC Once Again
Crypto regulation is inevitable, that seems to be the message coming from U.S. regulatory agencies, government officials, and large players in the space. Once they have understood this, their factions push for what they consider will be most beneficial for the nascent asset class. Related Reading: Celsius Meeting Audio Leaked – Why Staffers Are Reacting […]
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Due to the Ethereum Merge, criticisms emerged using the Proof-of-Work consensus mechanism, while hyping Ethereum’s shift from PoW to PoS, many played down BTC. The reason has been the primary crypto operation on PoW. Hence, information concerning BTC’s energy consumption for the mining process skyrocketed. Related Reading: Why Crypto Regulation Puts CFTC In Crosshairs With […]
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....
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....
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....
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....