Self-Regulation the way to go for cryptocurrencies says CFTC Commissioner

North America Regulations United States

During Yahoo Finance’s cryptocurrency event in New York, Brian Quintenz, a member of the Commodity Futures Trading Commission, reflected on the previous day’s Senate hearing which saw the Securities and Exchange Commission and CFTC chiefs address the many issues associated with cryptocurrencies.

“One of the other takeaways from yesterday was you didn’t hear either chairman say ‘no, absolutely not, this is not safe, we must stop this at all costs.’” said Quintenz.

He also suggested that self-regulation should be considered by the crypto-industry as adjusting the jurisdictional powers of SEC and CFTC to the new reality is likely to take a long time.

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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