Connect with us

Hi, what are you looking for?

Cryptocurrency

CFTC Commissioner Brian Quintenz Says SEC Lacks Authority Over Commodities, Including ‘Crypto Assets’

Quintenz’s comment follows remarks by SEC Chairman Gary Gensler, who this week reiterated his view that stock and “stable value tokens backed by securities” qualify as securities.

Brian Quintenz, a Republican commissioner for the Commodity Futures Trading Commission (CFTC), tweeted Wednesday that the U.S. Securities and Exchange Commission (SEC) does not have jurisdiction over “pure commodities or their trading venues,” including “crypto assets.”

  • Quintenz’s tweet followed remarks earlier this week by U.S. SEC Chairman Gary Gensler, who reiterated his position that stock tokens and “stable value tokens backed by securities” qualify as securities, meaning they must be registered and their issuers must abide by existing federal law.
  • Retweeting Quintenz’s post, the U.S. House Committee on Agriculture said that “#crypto is bigger than the SEC,” and urged Congress to “write the rules … to protect investors AND innovation.”
  • In his own tweet, former CFTC Chairman Christopher Giancarlo said the CFTC was the only agency with the experience to regulate cryptocurrency markets and pressed the CFTC to nominate a new chair to generate “sensible cryptocurrency regulation.”

source of news:coindesk

Featured

Bitcoin

US-based Wells Fargo publicly announced its spot Bitcoin ETF investments in a statement to the US Securities and Exchange Commission (SEC). On the other...

Bitcoin Mining

The mining industry for Bitcoins incurred a sizeable debt load during the bull market of 2021, which hurt their financial health during the subsequent...

Altcoin

Ripple is attempting an upside break above the $0.365 resistance zone against the US Dollar. XRP price could fail to gain pace if it...

Bitcoin

Bitcoin price is facing resistance near $17,000. BTC could start another decline unless there is a strong move above the $17,000 resistance zone. Bitcoin...