CFTC commissioner calls for faster cryptocurrency reform
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2024-11-22 18:32:01 746
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Golden Finance reported that U.S. Commodity Futures Trading Commission (CFTC) Commissioner Summer Mersinger gave a speech at the North American Blockchain Summit, calling for the development of cryptocurrency standard policies through a formal notification and comment process. Mersinger said there are problems with regulators’ current “enforcement-style regulatory” approach to the cryptocurrency industry, specifically citing the case of Uniswap Labs. She highlighted the CFTC as “the ideal regulator for cryptocurrency spot markets” due to its ability to quickly implement significant legislative changes without disrupting the market.
Mersinger noted that while cryptocurrency entities, including decentralized finance DeFi, are often lumped into existing categories and required to comply with the same laws, there is currently no formal path to registration. She suggested that the cryptocurrency industry should start reaching out as soon as the new government leadership is determined to facilitate early dialogue. It’s worth noting that the CFTC’s recent settlement with Uniswap was relatively small, reflecting subtle changes in regulatory attitudes.