CFTC Chair Mike Selig Says Agency Will Protect Crypto Users’ Right to Self-Custody
JH Kim
Summary
- Mike Selig, chair of the U.S. CFTC, said the agency will protect cryptocurrency users’ right to self-custody.
- Selig also emphasized that the agency will ensure the safety of assets held with trusted third-party custodians.
- The CFTC said it will protect assets of cryptocurrency users under both self-custody and third-party custody models.
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Mike Selig, chair of the U.S. Commodity Futures Trading Commission, said the agency will protect cryptocurrency users’ right to self-custody. He also emphasized that it will ensure the safety of assets held with trusted third-party custodians.
Cointelegraph reported on Oct. 8 that Selig said the CFTC is committed to protecting the right of crypto users to hold and manage their assets directly.
He added that while safeguarding users’ right to self-custody, the agency must also protect assets held by trusted third-party custodians.
The CFTC’s policy is to protect user assets under both self-custody and third-party custody models.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.