
DeFi is subject to regulation, CFTC Chair Rostin Behnam says
The CFTC chair argued that decentralized digital asset exchanges will be regulated regardless of how they’re constituted—it’s just a matter of whether the CFTC or the SEC does it.
The CFTC chair argued that decentralized digital asset exchanges will be regulated regardless of how they’re constituted—it’s just a matter of whether the CFTC or the SEC does it.
As per the legal opinion of both the chairman of the Securities and Exchange Commission and the New York Attorney General, Ethereum, and most other tokens sold via ICO, are unregistered securities.
Regulators in the United States believe regulating the digital currency market is key to preventing events such as the FTX collapse from recurring.
Digital asset regulation in the United States has a problem. There are too many chefs in the kitchen, and in confusion, some digital dishes are getting burned while others are being snuck out the back door.
The visit by CFTC’s Caroline Pham, who criticized the SEC’s “regulation by enforcement” earlier this year, comes as both agencies fight for digital currency industry oversight.
Controversial “crypto” exchange FTX hopes the CFTC will vanquish the SEC in the regulatory turf war over which branch of the U.S. government gets primary oversight of digital assets.