Outgoing US Commodity Futures Trading Commissioner Christie Goldsmith Romero says that the agency’s top brass migration is “not a great position” for crypto rules.
CFTC can be led by a commissioner only once at the end of this year, which is Goldsmith Romero Said The Brookings will make the rules difficult in the 27 May interview at the institution as it leaves the low diverse pool of opinion.
“I think this is not a great situation if you have a person who is determining what the rules should be?
“I always wanted to hear from my fellow commissioners as to what they understand for them, and there are many things that they have assured me and many things that I have assured them, so I think it makes a dissatisfaction for regulation.”
Goldsmith Romero The last day will be on 31 MayExcept Commissioner Christin Johnson as the only Democrat of CFTC, who also has Announced plan to depart the agency Before 2026.
Republican Commissioner Summer Merceder is also Except for 30 May CEO and Republican acting CFTC Chairing Caroline Fam, as the Blockchain Association to join the Crypto Advocacy Organization, said on 15 May that she was “planning to go into the private sector” if Bryan Quinance had to be confirmed to confirm the agency’s head.
If the quintage is confirmed, and follows through leaving the form, it will completely leave it in charge of the agency. Five commissioners are considered to make CFTC, and no one can have more than three political party.
Goldsmith Romero said that during his tenure, all commissioners had different approaches and experiences, which were “really helpful”, when brought together.
“So what happens if CFTC goes down to one and gets new rights to Crypto? It is really, really going to be difficult; you are not the same push and pulling,” he said.
Trump administration has thought of handing over CFTC gets the reins of crypto regulation Last. The Republicans of the Congress are also drafting bills to give CFTC more and more oversight on the industry,
Retail Customer Definition CFTC should be priority
In the future, Goldsmith Romero feels that CFTC should work on Define a retail customer “Crypto and some other products” have a uniform retail customer security regime for the Securities and Exchange Commission to ensure the arrival of fresh investment.
Connected: Crypto Purp Futures is coming ‘Very soon,’ CFTC’s Merceder says
“I came from SEC with an investor protection regime, you want people to know their rights and risk if they take risks and they are lost on them,” he said.
“But you want some basic things such as exchanges are registered which have some basic requirements and they have to follow the law and it is, I think the main thing that needs to be.”
Goldsmith Romero said that other “extremely basic” rules may include restrictions against the company’s assets with customer funds, and Brokers, exchanges and clearing houses In SEC, CFTC or some cases, it is necessary to register with both.
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