CFTC Chairman Says Agency Is Pursuing Voluntary Federal Registration for Crypto Exchanges
JH Kim
Summary
- The US CFTC said it is pursuing a voluntary federal registration system for cryptocurrency exchanges.
- The move is aimed at establishing a supervisory framework for exchanges before related legislation is passed by Congress.
- The CFTC added that it plans to use the system to help cryptocurrency exchanges meet the US's high market oversight standards.
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The US Commodity Futures Trading Commission is pursuing a voluntary federal registration system for cryptocurrency exchanges. The move is intended to establish a supervisory framework for exchanges before Congress passes related legislation.
On October 26, CFTC Chairman Mike Selig wrote on X, formerly Twitter, that the crypto market needs the investor protections that have long applied in the US derivatives market.
He said the CFTC is moving to introduce a voluntary federal registration system for crypto exchanges while Congress has yet to act on related legislation.
The agency plans to use the framework to help crypto exchanges meet the US's high market oversight standards.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.