On September 29, the Securities and Alternate Fee (SEC) and the Commodity Futures Buying and selling Fee (CFTC) held their first shared roundtable in additional than a decade.
The discussions centered on methods to align oversight practices, together with these affecting cryptocurrency companies.
Caroline Pham, the appearing head of the CFTC and at present the one commissioner left after a number of departures this 12 months, highlighted the significance of each businesses working collectively.
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She additionally made a degree of addressing “concern, uncertainty, and doubt” about how the CFTC handles crypto oversight.
To again her feedback, Pham outlined the regulator’s current exercise. Between January 20, when she stepped into the position, and September 3, the fee carried out 18 non-enforcement actions and 13 enforcement actions, a few of which concerned crypto-related lawsuits.
She added that since September 4, the company has taken one other 14 actions. She pushed again towards claims that the company had slowed down. Pham famous, “The CFTC is alive and properly”.
On the identical occasion, SEC Chair Paul Atkins clarified that there isn’t any plan to merge the 2 our bodies. He careworn the necessity for cooperation throughout businesses however reminded that solely Congress and the President may approve a merger. “Collaboration, not consolidation”, was how he framed it.
The assembly additionally featured trade voices, with representatives from exchanges corresponding to Kraken
$636.52M
and Crypto.com
$3.1B
collaborating in panel discussions.
Not too long ago, the SEC introduced plans to introduce a brand new coverage, generally known as the “innovation exemption”. What’s it? Learn the total story.
