According to Reuters, more than 10 years have passed since the birth of Bitcoin, but lawmakers and regulators continue to discuss important issues, such as which regulator should be allowed to regulate digital assets, and now, including U.S. commodity futures Federal regulators, including the Exchange Commission (CFTC), are increasing resources to help police fraud in digital asset markets.
Currently, the CFTC does not regulate cryptocurrency spot or cash market transactions (this is known as retail commodity trading), nor does it regulate market participants engaged in such transactions, except in incidents of fraud or manipulation.
However, the current CFTC chairman, Rostin Behnam, is seeking to expand the CFTC’s jurisdiction. He said in a congressional hearing last October that the CFTC is ready to assume the main responsibility for digital asset enforcement, calling on members of Congress. I think the committee It’s important to reconsider extending the CFTC’s jurisdiction.
In February of this year, Bannan again urged members of Congress to give the CFTC more powers when testifying before the Senate Committee on Agricultural Nutrition and Forestry, arguing that the CFTC could play an increasingly important role in regulating the spot digital asset commodity market, while the CFTC The current annual budget is $300 million, and he is also seeking to increase the CFTC’s annual budget by an additional $100 million to take on more responsibility in regulating digital asset markets.
Some MPs support
Some members of Congress supported Bannan with bipartisan bills such as the Digital Commodity Exchange Act of 2022 (DCEA) and the Responsible Financial Innovation Act (RFIA), both of which Both bills give the CFTC the power to supervise the spot market of digital assets.
Despite legislative uncertainties in digital asset regulation, the CFTC is continuing to promote enforcement actions related to digital assets. In the last fiscal year alone, the CFTC implemented 23 digital asset-related enforcement actions, accounting for 23 percent of the CFTC’s 2015 Nearly half of the total number of digital asset-related enforcement actions this year.
“Reuters” analysis, although the scope of the CFTC’s power to regulate the digital asset market is still unclear, it is certain that the CFTC will continue to crack down on digital asset-related fraud and intends to let more employees join to strengthen these efforts. Therefore, the CFTC It is expected that there will be more and more digital asset-related enforcement actions in the future.
With the improvement of market supervision, the digital currency industry will also usher in new developments. Investors who are interested in this can also consider entering this market by investing in asic mining machines. At present, the price of asic mining machines is at a historically low level, which is an ideal time to enter the market.
Post time: Aug-19-2022