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CFTC Chair on Crypto Regulation
The CFTC Chair warns that opponents of new crypto regulations are 'dangerously inviting the next Sam Bankman-Fried.'
Key points
- CFTC Chair Mike Selig ordered staff to move forward with a formal crypto market structure framework.
- The CFTC allowed developers to create passive derivatives software, including for crypto, without requiring broker registration.
- The CFTC launched new rulemaking to establish regulatory oversight of crypto trading and transactions, and proposed its first set of rules to regulate the US crypto industry.
- Selig said the agency is preparing for a future built around "onchain systems, mass tokenization, 24/7 trading, and agentic finance."
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Ash Crypto @AshCrypto 1,322
US CFTC Chair Mike Selig said he will regulate crypto without Congress to prevent another FTX.
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Reaction on X: Replies are largely skeptical: the most-liked ones question why the market is falling despite the news and call it obvious market manipulation, with others saying America is too corrupt to trust and blaming Democrats for the Clarity Act not passing. The original poster did not respond.
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From @GodsBurnt, @Aggrandize365, @Mindq58 and others. Spam removed, with English and Chinese translations.
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