work is underway on global oversight of the crypto industry


Regulators in the United States and foreign countries are currently conducting “advanced discussions” regarding the development of global industry standards for crypto regulation. About it in an interview Bloomberg the commissioner said CFTC Caroline Pham.

The official said that she has held more than 75 meetings on this topic with representatives of departments abroad.

Pham said regulators should think about how to “use existing powers to provide the clarity that is needed now.” This is how she responded to a question about concerns about the current shortcomings in supervision amid the difficulties of Gemini and Genesis.

According to the CFTC spokeswoman, this means identifying a crypto instrument and meeting the same standards that apply to other financial instruments.

Pham also noted that the definition of guidelines for non-financial crypto activities and use cases for blockchain technology should also be explored.

The commissioner expressed hope for a change in the regulatory field in the United States and urged not to be complacent with the “preservation of the status quo”.

“This year I would like to see the CFTC and other agencies provide more guidance,” she said.

Earlier, the US Congress created a subcommittee dedicated to digital assets.

Recall that Nigel Green, CEO of deVere Group, called on the participants of the Davos forum to regulate cryptocurrencies.

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