The chairman of CFTC says his agency and the SEC 'have to rely on 70-year-old case-law to determine what's a security or a commodity.' crypto cryptocurrency bitcoin
CFTC Chairman on US Crypto Regulation: We Have to Rely on 70-Year-Old Case Law to Determine What's a Security or Commodity
The chairman of the Commodity Futures Trading Commission says his agency and the Securities and Exchange Commission “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.”Commodity Futures Trading Commission Chairman Rostin Behnam talked about cryptocurrency regulation in an interview with CNBC last week.
Responding to a question about whether the CFTC gets along with the Securities and Exchange Commission and whether the two agencies share resources to regulate the crypto sector, he affirmed:“For the CFTC, the difficulty is we are a derivatives regulator. We don’t oversee the cash markets.
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