SEC and CFTC Chairmen concerned with unruly cryptocurrency industry

Cryptocurrency North America United States
EtherDelta, a decentralized Ethereum exchange (DEX), has been accused by the SEC of providing a platform that illegally allowed users to trade tokens that the SEC considers to be securities under federal law.

In a joint statement published in The Wall Street Journal, Securities and Exchange Commission (SEC) chief Jay Clayton and Commodity Futures Trading Commission (CFTC) head J. Christopher Giancarlo warned the cryptocurrencies market participants against disregard for regulations and circumventing the rules governing investor protection.

According to the statement, the fact that the limited jurisdiction of the CFTC and SEC over cryptocurrency transactions is often cited as regulation as an investment attribute should make investors wary. Moreover, the authors of the op-ed suggested that the frameworks used during the registration of cryptocurrency exchanges other trading platforms should be revisited.

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Bertrand Theaud

Bertrand Theaud

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