{"id":47289,"date":"2021-08-05T18:44:22","date_gmt":"2021-08-05T15:44:22","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=47289"},"modified":"2025-09-01T20:34:54","modified_gmt":"2025-09-01T17:34:54","slug":"former-cftc-chief-questions-sec-authority-to-regulate-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/former-cftc-chief-questions-sec-authority-to-regulate-cryptocurrencies\/","title":{"rendered":"Former CFTC chief questions SEC authority to regulate cryptocurrencies"},"content":{"rendered":"<p>The Commodity Futures Trading Commission (CFTC) is the only regulator authorised to oversee Bitcoin and other cryptocurrencies. This is the view of its former chairman, Christopher Giancarlo.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Only one US regulatory agency has experience regulating markets for <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> &amp; <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#Crypto<\/a> and it is not <a href=\"https:\/\/twitter.com\/SECGov?ref_src=twsrc%5Etfw\">@SECGov<\/a>. It is <a href=\"https:\/\/twitter.com\/CFTC?ref_src=twsrc%5Etfw\">@CFTC<\/a>. If <a href=\"https:\/\/twitter.com\/hashtag\/BidenAdministration?src=hash&#038;ref_src=twsrc%5Etfw\">#BidenAdministration<\/a> is serious about sensible <a href=\"https:\/\/twitter.com\/hashtag\/Cryptocurrency?src=hash&#038;ref_src=twsrc%5Etfw\">#Cryptocurrency<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/regulation?src=hash&#038;ref_src=twsrc%5Etfw\">#regulation<\/a>, it needs to nominate a CFTC <a href=\"https:\/\/twitter.com\/hashtag\/chairman?src=hash&#038;ref_src=twsrc%5Etfw\">#chairman<\/a>.<\/p>\n<p>\u2014 Chris Giancarlo (@giancarloMKTS) <a href=\"https:\/\/twitter.com\/giancarloMKTS\/status\/1422904326775877639?ref_src=twsrc%5Etfw\">August 4, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThis is not the purview of the SEC. The Biden Administration should entrust the leadership of the CFTC if regulation is to be taken seriously. This agency has relevant experience,\u201d explained the former official.<\/p>\n<\/blockquote>\n<p>Commissioner Brian Quintenz of the CFTC expressed similar views, placing cryptocurrencies in the agency&#8217;s remit alongside other exchange-traded commodities such as wheat, gold and oil.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Just so we\u2019re all clear here, the SEC has no authority over pure commodities or their trading venues, whether those commodities are wheat, gold, oil\u2026.or <a href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#crypto<\/a> assets.<\/p>\n<p>\u2014 Brian Quintenz (@CFTCquintenz) <a href=\"https:\/\/twitter.com\/CFTCquintenz\/status\/1422912721637580803?ref_src=twsrc%5Etfw\">August 4, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The US House Agriculture Committee backed the CFTC official&#8217;s position. Its members urged Congress to draft a &#8216;rules of the road&#8217; to protect investors while encouraging innovation in the digital economy.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">.<a href=\"https:\/\/twitter.com\/CFTCquintenz?ref_src=twsrc%5Etfw\">@CFTCquintenz<\/a> is right, <a href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#crypto<\/a> is bigger than the SEC. <\/p>\n<p>Congress needs to write the rules of the road to protect investors AND innovation in the digital economy. <a href=\"https:\/\/t.co\/vIzND3KY28\">https:\/\/t.co\/vIzND3KY28<\/a><\/p>\n<p>\u2014 House Ag GOP (@HouseAgGOP) <a href=\"https:\/\/twitter.com\/HouseAgGOP\/status\/1423040474504433664?ref_src=twsrc%5Etfw\">August 4, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Gensler, the head of the SEC, <a href=\"https:\/\/u1f987.com\/en\/news\/gensler-warns-of-tighter-regulation-for-defi-and-stablecoins\">called<\/a> the majority of digital assets unregistered securities that would have to meet the requirements of the agency he leads.<\/p>\n<p>Earlier, the official <a href=\"https:\/\/u1f987.com\/en\/news\/gensler-warns-stock-token-issuers-to-report-to-the-sec\">warned<\/a> issuers of stock tokens that they must report to the SEC.<\/p>\n<p> \u041f\u043e\u0434\u043f\u0438\u0441\u044b\u0432\u0430\u0439\u0442\u0435\u0441\u044c \u043d\u0430 \u043a\u0430\u043d\u0430\u043b ForkLog \u0432 <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener\"> YouTube<\/a>! <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Commodity Futures Trading Commission (CFTC) is the only regulator authorised to oversee Bitcoin and other cryptocurrencies. This is the view of its former chairman, Christopher Giancarlo.<\/p>\n","protected":false},"author":1,"featured_media":47290,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[879,1269,36,128,1211,26],"class_list":["post-47289","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cftc","tag-cryptocurrencies","tag-regulation","tag-sec","tag-stock-market","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/47289","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=47289"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/47289\/revisions"}],"predecessor-version":[{"id":47291,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/47289\/revisions\/47291"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/47290"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=47289"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=47289"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=47289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}