Coinscreed
  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • DeFi
    • Blockchain News
  • Market Analysis
  • NFT
  • Metaverse
  • Cryptocurrencies
  • Learn
    • Bitcoin 101
    • Ethereum 101
    • Binance Smart Chain
    • DeFi 101
    • Ripple 101
    • ICO 101
    • Trading 101
    • Dogecoin 101
    • Lightening Network
    • NFT 101
  • Crypto How Tos
Advertise
No Result
View All Result
  • bitcoinBitcoin(BTC)
    $29,865.00-2.02% 24H
    BITCOIN
    24H : -2.02%
    Volume : $24,937,141,269.00
    Marketcap : $568,719,890,904.00
  • ethereumEthereum(ETH)
    $2,032.61-2.48% 24H
    ETHEREUM
    24H : -2.48%
    Volume : $16,176,753,402.00
    Marketcap : $245,589,291,699.00
  • binancecoinBNB(BNB)
    $299.92-2.25% 24H
    BNB
    24H : -2.25%
    Volume : $1,331,255,097.00
    Marketcap : $50,427,124,450.00
  • rippleXRP(XRP)
    $0.428-1.75% 24H
    XRP
    24H : -1.75%
    Volume : $2,134,033,745.00
    Marketcap : $20,673,866,572.00
  • cardanoCardano(ADA)
    $0.561-3.54% 24H
    CARDANO
    24H : -3.54%
    Volume : $790,042,896.00
    Marketcap : $18,984,827,267.00
  • terra-lunaTerra(LUNA)
    $0.000192.69% 24H
    TERRA
    24H : 2.69%
    Volume : $757,443,863.00
    Marketcap : $1,206,308,456.00
Coinscreed
No Result
View All Result
homerun token
Home News

SEC has no jurisdiction over cryptocurrency, says CFTC commissioner

Chide Austin by Chide Austin
10 months ago
in News
Reading Time: 3 mins read
A A
Share on FacebookShare on Twitter
According to Christopher Giancarlo, former chairman of the Commodity Futures Trading Commission (CFTC), the CFTC is the only U.S. regulatory agency with experience in regulating Bitcoin and cryptocurrency markets and not SEC.
SEC has no jurisdiction over cryptocurrency, says CFTC commissioner

The Securities and Exchange Commission (SEC) of the United States has expanded the scope of its oversight of the cryptocurrency industry, but a commissioner with the Commodity Futures Trading Commission (CFTC) has asserted that cryptocurrency regulation does not fall under the SEC’s purview.

Commissioner Brian Quintenz of the Commodity Futures Trading Commission (CFTC) declared on Twitter on Wednesday that cryptocurrencies such as Bitcoin (BTC) should be regulated by the CFTC rather than the Securities and Exchange Commission (SEC).

SuggestedArticles

South Korean Legislature Mulls New Licensing System For Crypto

South Korean Legislature Mulls New Regulation For Cryptocurrency

41 mins ago
Cloudflare To Run Ethereum Validator Node In Its Web3 Experiment

Cloudflare To Run Ethereum Validator Node In Its Web3 Experiment

1 hour ago

The Commodity Futures Trading Commission (CFTC) has stated that cryptocurrencies are commodities and therefore fall under its jurisdiction, as opposed to securities, which are regulated by the Securities and Exchange Commission (SEC), as follows:

The SEC states that it has no authority over pure commodities or their trading venues, regardless of whether the commodities in question are wheat, gold, oil, or cryptocurrency assets.

Quintenz’s comments came just over half an hour after former CFTC Chairman Christopher Giancarlo made a similar statement on Twitter, arguing that the CFTC is the only U.S. regulatory agency with experience regulating markets for Bitcoin and other cryptocurrencies.

“If the Biden Administration is serious about sensible cryptocurrency regulation, it needs to nominate a CFTC chairman,” Giancarlo noted.

Only one US regulatory agency has experience regulating markets for #Bitcoin & #Crypto and it is not @SECGov. It is @CFTC. If #BidenAdministration is serious about sensible #Cryptocurrency #regulation, it needs to nominate a CFTC #chairman.

— Chris Giancarlo (@giancarloMKTS) August 4, 2021

The U.S. House Committee on Agriculture is a permanent committee in the United States House of Representatives. Quintenz’s statement was subsequently endorsed by the House of Representatives (House).

As stated on the committee’s official Twitter account, cryptocurrencies are “bigger than the SEC,” and the Congress “needs to write the rules of the road to protect investors and innovation in the digital economy.”

The new remarks appear to be in response to recent remarks by SEC chairman Gary Gensler, who called for increased regulatory oversight of the cryptocurrency industry in order to broaden the scope of the regulatory regime to include decentralized exchanges.

According to reports, Gensler stated that there has been a great deal of debate about what types of digital assets should fall under the SEC’s jurisdiction, given that the authority previously determined that major cryptocurrencies such as Bitcoin and Ether (ETH) did not qualify as securities.

Tags: bitcoinCFTCETHsec

BTC365

Coinscreed

Copyright © 2022 Coinscreed

Navigate Site

  • About
  • Advertise
  • Privacy & Policy
  • Crypto Price Charts

Follow Us

No Result
View All Result
  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • DeFi
    • Blockchain News
  • Market Analysis
  • NFT
  • Metaverse
  • Cryptocurrencies
  • Learn
    • Bitcoin 101
    • Ethereum 101
    • Binance Smart Chain
    • DeFi 101
    • Ripple 101
    • ICO 101
    • Trading 101
    • Dogecoin 101
    • Lightening Network
    • NFT 101
  • Crypto How Tos

Copyright © 2022 Coinscreed

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.