United

Chair

<div class="cryptonews"> 
 <p class="is-style-lead">At the Futures Industry Association Expo 2023 conference, Rostin Behnam, the head of the US Commodity Futures Trading Commission (CFTC), emphasized the need for a robust regulatory framework in the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> industry. </p> 
 <p>Behnam noted that the CFTC’s Enforcement Division has issued 131 monetary awards since 2015, with 45 related to digital <a rel="noopener noreferrer nofollow" title="asset" href="https://thebittimes.com/tag/asset.html">asset</a> fraud, constituting approximately 34% of the total.</p> 
 <blockquote class="wp-block-quote"> 
  <p>“If you require an analogy, think about whether you would be comfortable on the road if only some individuals were required to have a drivers’ license, or whether, given the choice, you would entrust your healthcare to an untrained, or unlicensed physician.”</p> 
  <p></p> <cite>Rostin Behnam, CFTC Chair</cite> 
 </blockquote> 
 <p>In his assessment, roughly 70% of <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies be designated as <a rel="noopener noreferrer nofollow" title="commodities" href="https://thebittimes.com/tag/commodities.html">commodities</a>. Accordingly, he called upon Congress to establish definitive regulations for digital <a rel="noopener noreferrer nofollow" title="assets" href="https://thebittimes.com/tag/assets.html">assets</a> and broaden the CFTC’s jurisdiction in this regard.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> US congressman pushes bill to shield privacy in CBDCs 
 </div> 
 <p>Behnam stressed the importance of regulating decentralized finance (defi), drawing a parallel to “unlicensed doctors.” </p> 
 <p>He had earlier sought enhanced authority from the US House of Representatives due to concerns related to exchange failures, market manipulation, and cybersecurity vulnerabilities.</p> 
 <p>Despite these concerns, laws governing <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> is still being developed in the United States. Meanwhile, the Securities and Exchange Commission (SEC) plans to amend rules, requiring protocols to register as exchanges or brokers.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> US Treasury warns DeFi poses a threat to national security 
 </div> <span class="google-news-banner__label">Follow Us on Google News</span> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/cftc-chair-wants-defi-regulated-says-70-of-crypto-assets-are-commodities-tbt65057.html">https://thebittimes.com/cftc-chair-wants-defi-regulated-says-70-of-crypto-assets-are-commodities-tbt65057.html</a></p>

CFTC chair wants defi regulated, says 70% of crypto assets are commodities

TheBitTimes

2023년 10월 4일에 게재된 다른 기사

Top Sweepstakes Casinos with the Best Vegas-Style Slot Games in the US

Uzbekistan Cracks Down on Crypto Mining With New Licensing Framework

XRP Lawsuit Update: Ripple vs. SEC Trial Date Locked for April 2024; What To Expect?

TON Foundation Secures 8-Figure Investment from MEXC Ventures

Use The Latest In Emerging Defi Trends To Give Yourself An Edge.

Bitcoin Price Forecast: Profiting from Pre-Halving Downtrends

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!