Cryptocurrencies a unique challenge for the CFTC

Cryptocurrency North America United States

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.

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].

Leave a Comment

Coinlaw Newsletter

Whether you are a law firm, founder gearing-up for a token offering, or a crypto currency trader, subscribe to the biggest crypto legal newsletter to be informed of the latest developments in each and every jurisdiction