On Tuesday, SEC chairman Gary Gensler addressed the mainstream media on points surrounding the regulation of the cryptocurrency business. Through the speech, Gensler sought to stop fraud whereas giving traders entry to what he calls “speculative” belongings – bitcoin and altcoins.
Republican Commissioner for the Commodity Futures Trading Commission (CFTC) Brian Quintenz, tweets Wednesday that the SEC has no jurisdiction over “pure commodities or places to trade them”, together with “crypto assets.”
“Yes, very clearly, we all know that the SEC has no responsibility for pure commodities or their trading venues, regardless of whether these commodities are wheat, gold, oil … or crypto assets.”
Brian Quintenz – Commissioner of the CFTC
Quintenz’s tweet adopted Gensler’s remark that each safety tokens and “value-stable tokens with securities” are thought-about securities, which suggests they have to be registered and the issuer should adjust to relevant federal regulation.
Retweet tweet from Quintenz, US House of Representatives Committee on Agriculture say “Crypto is beyond the reach of the SEC” and calls on Congress to “write rules … to protect investors and innovations”.
Meanwhile, former CFTC chairman Christopher Giancarlo mentioned the CFTC was the one physique with expertise in regulating the cryptocurrency market and has urged the CFTC to nominate a brand new place to ascertain “adequate regulation of cryptocurrencies.”
Annie
According to Coindesk
Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page
Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) dominate the crypto market, but experts warn that…
Discover the future as the Dogecoin price aims for a $0.7 comeback and discover why…
Willemstad, Curaçao, 4th November 2024, Chainwire
London, UK, 4th November 2024, Chainwire
November is the perfect time for BlockDAG's huge presale. Use BDAG100 to double your purchase.…
OpenSea new version is scheduled to launch in December, with an improved user experience, improved…
This website uses cookies.