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Author Topic: CFTC Regulations on Virtual Currencies  (Read 16 times)
merritos
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February 07, 2018, 08:48:03 PM
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CFTC may come up with a new federal regulatory framework for the oversight of Digital currencies.

Current hodge podge rules that govern the cryptocurrency exchanges may need to be reviewed in favor of a more rationalized federal framework, which is good for the thriving virtual currency and increases the potential of disruptive innovations.

The SEC has confirmed again that  public offerings comprising digital tokens, known as initial coin offerings, are securities and subject to the same investor protection rules as equity market offerings

It is good that regulators are trying to  strike a balance between investor protection and innovation

Regarding ICOs , it is noteworthy to note in the testimony that -- “I believe every ICO I’ve seen is a security… You can call it a coin but if it functions as a security, it is a security…,” Clayton said. “Those who engage in semantic gymnastics or elaborate re-structuring exercises in an effort to avoid having a coin be a security are squarely in the crosshairs of our enforcement provision.”

Senator Mark Warren's offered a bullish vision -- “The potential writ large amongst crypto assets and the underlying blockchain could be as transformational as wireless was years ago. I think we’re going to need a much more coordinated effort,”

https://techcrunch.com/2018/02/06/virtual-currencies-oversight-hearing-sec-cftc-bitcoin/
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February 07, 2018, 09:01:14 PM
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CFTC may come up with a new federal regulatory framework for the oversight of Digital currencies.

Current hodge podge rules that govern the cryptocurrency exchanges may need to be reviewed in favor of a more rationalized federal framework, which is good for the thriving virtual currency and increases the potential of disruptive innovations.

The SEC has confirmed again that  public offerings comprising digital tokens, known as initial coin offerings, are securities and subject to the same investor protection rules as equity market offerings

It is good that regulators are trying to  strike a balance between investor protection and innovation

Regarding ICOs , it is noteworthy to note in the testimony that -- “I believe every ICO I’ve seen is a security… You can call it a coin but if it functions as a security, it is a security…,” Clayton said. “Those who engage in semantic gymnastics or elaborate re-structuring exercises in an effort to avoid having a coin be a security are squarely in the crosshairs of our enforcement provision.”

Senator Mark Warren's offered a bullish vision -- “The potential writ large amongst crypto assets and the underlying blockchain could be as transformational as wireless was years ago. I think we’re going to need a much more coordinated effort,”

https://techcrunch.com/2018/02/06/virtual-currencies-oversight-hearing-sec-cftc-bitcoin/


The way that the regulation begins to develop and take shape in the US is going to be an interesting one to watch, hopefully they can stay true to their word and do as little harm as possible to the market. It's so hard for regulators to regulate cryptocurrencies because for the most part it is outside of their domain and it's a global thing. Longer term some form of collaboration with other countries seems like a necessity.

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February 07, 2018, 09:12:00 PM
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CFTC may come up with a new federal regulatory framework for the oversight of Digital currencies.

Current hodge podge rules that govern the cryptocurrency exchanges may need to be reviewed in favor of a more rationalized federal framework, which is good for the thriving virtual currency and increases the potential of disruptive innovations.

The SEC has confirmed again that  public offerings comprising digital tokens, known as initial coin offerings, are securities and subject to the same investor protection rules as equity market offerings

It is good that regulators are trying to  strike a balance between investor protection and innovation

Regarding ICOs , it is noteworthy to note in the testimony that -- “I believe every ICO I’ve seen is a security… You can call it a coin but if it functions as a security, it is a security…,” Clayton said. “Those who engage in semantic gymnastics or elaborate re-structuring exercises in an effort to avoid having a coin be a security are squarely in the crosshairs of our enforcement provision.”

Senator Mark Warren's offered a bullish vision -- “The potential writ large amongst crypto assets and the underlying blockchain could be as transformational as wireless was years ago. I think we’re going to need a much more coordinated effort,”

https://techcrunch.com/2018/02/06/virtual-currencies-oversight-hearing-sec-cftc-bitcoin/


The way that the regulation begins to develop and take shape in the US is going to be an interesting one to watch, hopefully they can stay true to their word and do as little harm as possible to the market. It's so hard for regulators to regulate cryptocurrencies because for the most part it is outside of their domain and it's a global thing. Longer term some form of collaboration with other countries seems like a necessity.

Not only that but some of my concerns would be are they going to back retroactively and get rid of all the ICOs that happened? That would literally decimate the market, and tons of investors would get rekted. Maybe thats the point...

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