U.S. CFTC Chair: ‘Crypto market structure bill will help the industry flourish once finalized’
Summary
- Mike Selig, chair of the CFTC, said passage of the crypto market structure bill (the CLARITY Act) would serve as a catalyst for industry growth.
- Selig said that if Congress finalizes the crypto market structure bill, the industry will flourish and blockchain firms will flow back into the United States.
- He stressed that crypto can grow under U.S. regulation, making the United States a key country in the crypto market.
Mike Selig, chair of the U.S. Commodity Futures Trading Commission (CFTC), said passage of the crypto (virtual asset) market structure bill, the CLARITY Act, would serve as a catalyst for industry growth.
In an interview with CNBC on the 29th (local time), Selig said, “If Congress finalizes the crypto market structure bill, the industry will flourish,” adding that “once clear national standards are put in place, blockchain firms will flow back into the United States.”
He continued, “Crypto can grow under U.S. regulation, and that will make the United States a key country in the crypto market.” He also said, “It has been about 15 years since blockchain technology emerged, and it has fundamentally changed how the markets under our jurisdiction evolve,” adding, “We have seen related technologies and assets move overseas many times, but we will now bring them back to the United States.”
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
