At the DC Blockchain Summit, Summer Mersinger, Commissioner of the US Commodity Futures Trading Commission, stated that the CFTC and SEC must collaborate to establish a framework for the classification of digital tokens.
In the words of Kristin Johnson, another Commissioner of the US Commodity Futures Trading Commission, legal terms are crucial to the market, and “exceptionally critical to the market participants knowing what their obligations responsibilities are, as well as to the agencies actually understanding the limitations of their enforcement authority, the limitations of their ability to bring certain types of activities and conduct within the purview of our oversight.”
Japan was the first country to establish a regulatory framework for cryptocurrencies in 2016. During the DC Blockchain Summit, Mersinger and Johnson discussed the importance of a global regulatory relationship. Commissioner Mersinger emphasized the unique role of the CFTC in harmonizing its rules with international regulations, stressing the need for “global harmony.”
Commissioner Johnson recalled her conversations with UK regulators at a London conference about the need for understanding each other’s jurisdictions. After FTX filed for bankruptcy, Johnson engaged in conversations in the UK on how to establish a regulatory framework, but the challenge is to address the rapid innovation and determine what happens in case of bankruptcy. Johnson added, “what’s maybe a lot shocking is the short timespan that we’ve seen some firms move through.”
The DC Blockchain Summit’s dominant theme in the panel discussion was the global conversation on how to restore trust after the worst year in the crypto industry.
READ ALSO
Biden’s schedule for December 7, 2023 is out
EST 11:00 AM President Biden receives the Presidential Daily Briefing Briefing Schedule 1:00 PM Press Briefing by Press Secretary Karine Jean-Pierre and NSC Coordinator for Strategic Communications John Kirby
Biden’s schedule for December 5, 2023 is out
EST 9:00 AM – President Joe Biden receives the Presidential Daily Briefing 9:55 AM – President Joe Biden departs the White House en route to Joint Base Andrews 10:15 AM – President Joe Biden departs Joint Base Andrews en route to Boston, Massachusetts 11:35 AM – President Joe Biden arrives in Boston, Massachusetts 1:45 PM…
Your Serbian Holiday Home Gets Protected With Dunav’s Insurance For Holiday Homes
As the holiday season approaches, the anticipation of festive preparations fills the air. For owners of holiday homes in Serbia, a valuable gift awaits at their doorstep – Dunav’s specialized insurance designed for holiday homes and unoccupied buildings. Dunav ensures that your holiday escape, whether it’s a serene family house or a cozy apartment, remains…
