US Commodities Regulator Establishes Crypto and DLT Committees

Source : US Commodities Regulator Establishes Crypto and DLT Committees
The Commodity Futures Trading Commission ()’s Technology Advisory Committee met today, hosting back-to-back panels on the subject of cryptocurrencies, blockchain and regulation. The meeting brought together influential figures from both the public and private sectors, with participants primarily raising issues related to markets, the regulation of the new technologies and the role of regulators in participating in the development of the technologies. Indeed, the event had one tangible outcome from the get-go – just prior to the break, the committee approved the creation of two subcommittees, with one devoted to cryptocurrencies and the other on broader application of distributed ledgers in the finance space. The event notably saw Brian Quintenz advocate for self-regulatory efforts around cryptocurrencies, a position he reportedly expressed during a pre-event press conference. He made a similar pitch at a cryptocurrency and blockchain event hosted by Yahoo! Finance last week. Quintenz reiterated this position during his opening remarks and also told attendees that “the should not attempt to make value judgments about which new products are securities.” “The markets, investors and consumers need to decide that for themselves,” he said. Quintenz did, however, also lend support to the Commission’s efforts to prevent fraud and market manipulation. Several panel […]
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