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Cryptoassets & Blockchain Legal News

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Cryptocurrencies a unique challenge for the CFTC

December 12, 2017 by Ashley MAO

J. Christopher Giancarlo, the chairman of the Commodity Futures Trading Commission (CFTC) said in a statement made yesterday, that “virtual currencies are unlike any commodity that the CFTC has dealt with in the past, and I know they pose challenges for the SEC as well.”

Granciano ensured that CFTC cooperates with SEC in regards to ICOs and cryptocurrencies and applauded SEC for encouraging investors to “recognize risks and legal responsibilities they have regarding cryptocurrencies and [ICOs].”

Granciano then continued to say that his agency has limited statutory authority over cryptocurrencies. “be aware of the potentially high level of volatility and risk in these markets,” he concluded.

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Ashley MAO, Coinlaw

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Ashley MAO is a member of the Coinlaw team. Read more about our team.


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