CFTC Chairman Selig Says Era of Regulation by Enforcement Is Over
JH Kim
Summary
- The chairman of the US Commodity Futures Trading Commission, or CFTC, said the practice of setting market rules through enforcement actions is over.
- Selig said at 'LINK: NYC,' an event hosted by Chainlink (Chainlink), that "the era of regulation by enforcement is over."
- Selig's remarks signaled a move away from the previous enforcement-focused regulatory approach.
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Michael Selig, chairman of the US Commodity Futures Trading Commission, said the practice of setting market rules through enforcement actions is over.
Cointelegraph reported on October 29 that Selig made the remarks at LINK: NYC, an event hosted by Chainlink, where he said "the era of regulation by enforcement is over."
Regulation by enforcement refers to an approach in which regulatory standards are shaped through investigations and penalties in individual cases, rather than through clear rules set in advance.
The remarks signaled a shift away from the previous enforcement-focused regulatory approach.
JH Kim
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