SEC and CFTC continue efforts to regulate cryptocurrency
Posted on Nov 13, 2018 in Regulation | Comments Off on SEC and CFTC continue efforts to regulate cryptocurrency
Important events at the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) last week further indicate these regulators’ strong intent to oversee cryptocurrency markets.
- On November 7, 2018, the CFTC Chairman gave a speech encouraging regulators to leverage technology to help keep pace with technological advancements in the cryptocurrency space.
- On November 8, 2018, the SEC brought its first enforcement action against an individual for operating an unregistered crypto-exchange, moving away from previous actions relating to initial coin offerings and alleged fraud.
- These events signify the continuing transformation of cryptocurrency markets from the “Wild West” to a more highly regulated market sector, at least in the United States.
