US CFTC Commissioner: Crypto Companies Should Not View CFTC as More Friendly Regulator Than SEC
On May 24, TuoniaoX.com reported that Christy Goldsmith Romero, one of the five commissioners of the U.S. Commodity Futures Trading Commission (CFTC), stated that cryptocurrency cases account for approximately 20% of the agency's cases, including recent civil cases against exchanges Binance and FTX. Goldsmith Romero said there is significant fraud in this sector, and while they cannot regulate all fraud, they must take action.
On May 24, TuoniaoX.com reported that Christy Goldsmith Romero, one of the five commissioners of the U.S. Commodity Futures Trading Commission (CFTC), stated that cryptocurrency cases account for approximately 20% of the agency's cases, including recent civil cases against exchanges Binance and FTX. Goldsmith Romero said there is significant fraud in this sector, and while they cannot regulate all fraud, they must take action.
Goldsmith Romero dismissed claims of a turf war between the CFTC and the Securities and Exchange Commission (SEC) over cryptocurrency regulation, but acknowledged that many products in the industry are new and that agencies are "still trying to figure things out." Crypto companies should not view the CFTC as a more friendly regulator than the SEC. Goldsmith Romero stated, "I don't like the narrative that the CFTC is somehow too lenient. The CFTC is not a 'light-touch regulator.'"