The latest news on our DC Forecasts crypto news site are oriented towards the regulation of cryptocurrencies – particularly the regulator the Commodity Futures Trading Commission (CFTC) – and its recently announced internal examinations for the year to come.
According to the official press release, cryptocurrencies like Bitcoin are in the mere focus. The CFTC, which released the examination priorities for the first time in 2019, will focus on various crypto-related aspects in its Division of Market Oversight (DMO), Division of Swap Dealer & Intermediary Oversight (DSIO) and Division of Clearing & Risk (DCR) papers.
The PR also notes that those priorities pertaining to cryptocurrency include crypto surveillance practices as well as other market and trading surveillance such as real-time monitoring.
As the CFTC chairman Christopher Giancarlo recently commented:
“I commend DMO, DSIO and DCR leadership and staff for their work to bring additional transparency into the CFTC agenda in order to ensure that registered market participants devote adequate compliance resources consistent with our regulatory priorities.”
This move comes as cryptocurrency regulation continues in earnest both at the CFTC and counterpart the Securities and Exchange Commission (SEC).
Since the reviews between the approaches of the two regulators are mixed, there are many accusations centering on the comparatively heavy-handed approach of the SEC. Meanwhile, this again proves that cryptocurrency has already made its way onto the radar of certification bodies.
Democratic US Presidential Candidate Advocates For Clear Crypto Regulations
“We should let investors, companies, and individuals know what the landscape and treatment will be moving forward to support innovation and development. The blockchain has vast potential," Yang said.The US presidential candidate Yang is definitely one of the many big names calling out for crypto regulation. His act definitely moves the waters and introduces certain regulatory certainty for businesses and regulators in the United States. He further pointed out that both crypto and digital asset markets develop faster than regulations can keep up. Featured on many best cryptocurrency news sites for his crypto-positive statement, Yang continued:
“Create clear guidelines in the digital asset world so that businesses and individuals can invest and innovate in the area without fear of a regulatory shift."With this the US presidential candidate proved that he is interested in cryptocurrencies and wants to be recognizable in the world of crypto. In January, there were reports showing that the US States Senator and cryptocurrency critic Elizabeth Warren had announced her bid for president in 2020. Speaking at a Senate Bank Committee hearing in October, Warren asserted that “the challenge is how to nurture productive aspects of crypto with protecting consumers.”
Andrew Yang Democratic Candidate Advocates For Clear Crypto Regulation
“We should let investors, companies, and individuals know what the landscape and treatment will be moving forward to support innovation and development. The blockchain has vast potential.”On the website, you can also see that Andrew Yang pointed out that cryptocurrency and digital assets markets are developing quickly and the regulatory bodies cannot follow the fast development. As we can read in the latest cryptocurrency news, he also pointed out:
“Create clear guidelines in the digital asset world so that businesses and individuals can invest and innovate in the area without fear of a regulatory shift.’’Back in January, the United States Senator and well-known crypto critic Elizabeth Warren made an announcement for her presidential run in 2020. While she was speaking at the Senate Banking Committee hearing back in October 2018, she stated that ‘’the challenge is how to nurture productive aspects of crypto with protecting consumers.’’ Elizabeth Warren also made clear that the average American consumer could become a victim of a crypto scam. As for Andrew Yang, he announced his candidacy in the 2020 elections in November 2017. At the start of this month, representatives Darren Soto (D) and Warren Davidson (R) introduced the Token Taxonomy Act. This reintroduced act will exclude cryptocurrency from being classified under security. The act also enables the introduction of regulatory certainty for regulators and business in the US blockchain industry. It also clarifies the relationship between government initiatives and regulatory rulings. As for Andrew Yang, we wish him good luck.
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