CFTC Commissioner Wants Industry Standard Regulation For Crypto By CoinEdition

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CFTC Commissioner Wants Industry Standard Regulation For Crypto

Cryptocurrency Jan 19, 2023 01:00AM ET

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CFTC Commissioner Wants Industry Standard Regulation For Crypto

CFTC Commissioner Caroline Pham has called for global industry standards in crypto regulation.

She has called on regulatory agencies to provide better clarity and guidance to the crypto industry in 2023.

The commissioner’s comments came a day after Japan’s FSA asked for crypto to be regulated like banks.

Caroline Pham, one of the four commissioners of the U.S Commodities and Futures Trading Commission (CFTC), has called for global industry standards in the regulation of the crypto industry. In a recent interview, Commissioner Pham commented on the state of the crypto market following the turmoil from a string of bankruptcies and scandals that began last year.

She revealed that 2022’s crypto contagion had initially prompted her to work on a new proposal. The commissioner had explored the option of public roundtables last year to determine their ability to assess the risks and the interconnectedness that led to last year’s crypto contagion.

The events that transpired in the crypto industry throughout 2022 have had an impact on her upcoming proposal. The proposal will reportedly feature 10 fundamentals that will ensure a responsible digital assets market.

Commissioner Pham has been consulting international policymakers to explore the standards that can be achieved at a global level. “I’ve had over 75 meeti ...

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CFTC Commissioner Wants Industry Standard Regulation For Crypto

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