The US regulator cannot decide on its position on cryptocurrencies

The Chairman of the US Commodity Futures Trading Commission (CFTC), Rostin Benham, said that the agency is ready to take on the role of regulating cryptocurrencies.

As it became known, Benham believes that the Commission will be able to cope with the control over the regulation of digital assets if it receives sufficient authority for this. However, not everyone agreed with this idea, including the regulators themselves. For example, CFTC Commissioner Caroline Pham believes that the introduction of laws to regulate cryptocurrencies will give regulators too much power and may negatively affect the activities of companies. It was Pham who earlier noted that the SEC’s definition of several tokens as securities during the investigation against the ex-Coinbase employee could have serious consequences for the entire crypto industry.

Interestingly, today it also became known that the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) have approved a new reporting requirement for cryptocurrency platforms. From now on, the CFTC and the SEC will control the activities of crypto companies in a similar way, obliging hedge funds with more than $ 500 million in assets under management to report on the risks associated with digital assets. It seems that the agencies have even forgotten their previous quarrels — all in order to gain as much power as possible over the control of cryptocurrency platforms.