Statement of Commissioner Dawn D. Stump on the CFTC’s Regulatory Authority Applicable to Digital Assets | Crypto Craft

  • Statement of Commissioner Dawn D. Stump on the CFTC’s Regulatory Authority Applicable to Digital Assets

    From cftc.gov

    The CFTC’s regulatory oversight authority, as well as the application of our enforcement authority, must be well understood by the public. Only then can proper regulatory compliance be demanded. The recent growth in popularity of crypto products and other digital assets has drawn much attention to the question of how this new financial asset class is regulated in the United States. In response, there has often been a grossly inaccurate oversimplification offered which suggests these are either securities regulated by the Securities and Exchange Commission, or commodities regulated by the Commodity Futures Trading ... (full story)

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BTCmailman
Aug 23, 2021 11:43am
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"Even if a digital asset is a commodity, it is not regulated by the CFTC."

Interesting stuff here just not sure what to make of it yet.
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TwoSense
Aug 23, 2021 11:52am
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Soooo, the CFTC regulates the futures contracts on commodities, not the actual commodity itself. She compared it to cattle.
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- Cattle are commodities, and the CFTC regulates futures contracts on cattle -but, the CFTC is not out regulating cash cattle markets, such as sale barns or video auctions.

It sounds like the CFTC and the SEC are going to need to stop bickering about who does what and work together.
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