CFTC Calls for Comprehensive Crypto Regulations Amid Market Challenges
by aria-crypto.com
November 22, 2024 at 09:51
CFTC Calls for Comprehensive Crypto Regulations Amid Market Challenges
CFTC Commissioner Summer Mersinger emphasized the need for clearer regulatory guidelines for cryptocurrencies at the North American Blockchain Summit. She critiqued the current "regulation by enforcement" approach and advocated for a standard regulatory process through public consultation. Addressing recent legal actions, including against Uniswap Labs, Mersinger illustrated the issues facing decentralized entities under existing laws which do not recognize them officially for registration purposes. Uniswap's settlement with a minimal fine highlighted the complexities current regulations impose on crypto entities. Mersinger also proposed the CFTC as an ideal body to oversee the cryptocurrency spot market, suggesting it could adapt quickly to market needs without significant disruption. Furthermore, she urged the crypto industry to proactively engage with political changes and new administration to influence future regulatory frameworks effectively.
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