Cryptocurrency Regulation Still in Limbo, Says SEC Chair

IconCryptoNewsTerminal Staff13 Jun, 2024

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Cryptocurrency Regulation Still in Limbo, Says SEC Chair

Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), recently informed the Senate Appropriations Committee that the SEC possesses "a framework for regulating crypto that can adapt to various situations, potentially differing from the framework employed by the Commodity Futures Trading Commission (CFTC)." This statement highlights the ongoing lack of clarity regarding the regulatory landscape for cryptocurrencies in the United States. While the SEC has taken steps to assert its authority over certain digital assets, the CFTC has also claimed jurisdiction over certain cryptocurrencies. This jurisdictional overlap has created uncertainty for businesses operating in the cryptocurrency space. Industry participants and investors alike are eagerly awaiting further guidance from both the SEC and the CFTC on how they intend to regulate cryptocurrencies. Until such guidance is provided, the regulatory landscape for cryptocurrencies will remain in a state of flux.

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