Closer Crypto Scrutiny eyes by SEC, CFTC Chiefs

North America United States

Significant resource of both the Securities and Exchange Commission (SEC) and the Commodity and Futures Trading Commission (CFTC) are being allocated to monitor the cryptocurrency industry in the US, that is according to an op-ed co-written by the chair of the Jay Clayton and his CFTC counterpart J. Christopher Giancarlo and published in the Wall Street Journal.

According to the article, both agencies will keep on stumping down on fraudulent activities within the cryptocurrencies market.

The statement concluded that as many internet-based cryptocurrency-trading platforms have registered as payment services they don’t fall under the direct oversight of the SEC or the CFTC. “We would support policy efforts to revisit these frameworks and ensure they are effective and efficient for the digital era,” stated the authors.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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