CFTC continues to explore digital asset policy considerations in MRAC meeting

The United States Commodity Futures Trading Commission, oregon CFTC, was a portion of discussions connected a regulatory model for integer assets arsenic good arsenic usage cases for blockchain technology.

In a March 8 gathering of the CFTC’s Market Risk Advisory Committee, commissioners, regulators, and manufacture representatives were scheduled to sermon “critical argumentation considerations” arsenic portion of the commission’s efforts to make a regulatory model for integer assets. In addition, manufacture leaders including Uniswap Labs CEO Hayden Adams and Chainalysis’ planetary caput of nationalist argumentation Caroline Malcolm were portion of a sheet focused connected usage cases of DeFi, distributed ledgers, and blockchain.

“Consistent with the MRAC’s historical relation successful delivering first-of-its-kind oregon unprecedented reports and recommendations, we expect furthering the Commission’s absorption connected targeted recommendations to code climate-related risks successful our markets and delivering recommendations for the regularisation of integer plus markets,” said CFTC commissioner Kristin Johnson successful prepared remarks.

Johnson added:

“Our system is simply a integer economy. Global fiscal markets indisputably trust connected the net and the net of things (IOT). We are present witnessing the deployment of Web 3.0.”

Today @CFTCjohnson delivered an opening connection earlier the Market Risk Advisory Committee Meeting. Read it arsenic prepared: https://t.co/laAMDaRlMN

— CFTC (@CFTC) March 8, 2023

Along with the U.S. Securities and Exchange Commission, the CFTC has been down immoderate of the caller lawsuits against high-profile figures successful the crypto space. The committee has charged erstwhile FTX executives Nishad Singh and Sam Bankman-Fried for allegations related to commodities fraud. Former Alameda Research CEO Caroline Ellison and erstwhile FTX main exertion serviceman Gary Wang look akin charges, but person consented to stays successful the CFTC’s civilian cases.

Related: CFTC caput looks to caller Congress for enactment connected crypto regulation

Balancing the load of integer plus regularisation successful the United States could beryllium a constituent of contention among national agencies and lawmakers successful the existent league of Congress. House Representative Tom Emmer introduced authorities aimed astatine limiting the Federal Reserve’s authority successful issuing a cardinal slope integer currency, portion the SEC besides has moved against Paxos implicit the Binance USD token.