The head of the CFTC: «Cryptocurrency – a challenge for the regulator»

According to the head of the Commission on trade commodity futures (CFTC), cryptocurrencies have become a real challenge for the U.S. regulator of commodity markets. In his statement
J. Christopher Giancarlo (J. Christopher Giancarlo) noted the risks that have a cryptocurrency and the initial placement of tokens (ICO).

His comments were a response to SEC Chairman Jay Clayton (Jay Clayton) who made the statement
in respect of the cryptocurrencies, followed by termination of the ICO, the company Munchee. In his statement, Clayton said that the SEC will consider any impact of digital assets on the securities market of the United States, including cryptocurrencies, if they meet the definition of securities.

Giancarlo praised his colleague from the SEC that he made the market participants and investors «recognize the risks and legal obligations they incur in respect of the cryptocurrency and ICO». He said:

«I’ve always said that virtual currencies differ from any goods, which the CFTC had in the past, and I know that they also create problems for the SEC.»

Giancarlo added that both agencies «in regular contact» with each other on issues like digital currencies, and ICO. Giancarlo also said that his Agency cannot effectively regulate cryptocurrencies as «these emerging markets and bitcoin exchanges remain largely unregulated markets where the powers of the CFTC are limited».

In the end, he warned investors that they should «be aware of the potentially high level of volatility and risk in these markets».

Добавить комментарий