The CFTC has made comprehensive crypto regulation a strategic objective to accomplish over the next few years, referring to digital assets as "21st century commodities."
Listen to article In its finalized strategy for the next four years, released on July 8, the United States Commodity Futures Trading Commission has made comprehensive crypto regulation a priority.
New strategy promises to embrace innovation"We will develop a holistic framework to promote responsible innovation in digital assets," the new framework promises within its strategic objectives.
The new framework puts out goals for the next four years, up until 2024, which is when current Chairman Heath Tarbert's term is scheduled to end.
The broad strategy includes heavily pro-innovation language, for which Tarbert and predecessors at the CFTC are well-known in the crypto community.
"Financial markets quickly adopt emerging technologies, and our derivatives markets have experienced an amazing digital transformation."
CFTC's role in crypto regulationThe CFTC handles regulation and enforcement of derivatives markets, as well as fraud and market manipulation within commodity trading.
As today's announcement notes, "Exchanges specializing in futures relating to digital assets" have entered into the CFTC's purview, including the recent addition of Ether futures to options in the U.S. market.
Just yesterday, CFTC Chairman Heath Tarbert commented on the importance of cooperation with co-regulator the Securities and Exchange Commission in establishing guidelines for crypto assets.
The new guidelines similarly aim to "Harmonize regulations for market participants subject to concurrent CFTC and SEC jurisdiction."
US CFTC Promises 'Holistic Framework' for Digital Assets by 2024
gepubliceerd op Jul 8, 2020
by Cointele | gepubliceerd op Coinage
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