- Oct 25, 2021
- Reaction score
CFTC Commissioner Stump on Crypto Regulation
CFTC Commissioner Dawn Stump has raised concerns regarding the approach her agency and the U.S. Securities and Exchange Commission (SEC) are taking to regulate the crypto industry. The commissioner is a vocal proponent of clarifying guidelines for crypto assets.
In an interview with the Financial Times, published Wednesday, she explained that she opposes “regulating through enforcement.” Noting that regulators are hitting companies with fines and lawsuits without providing clear compliant guidelines, she said:
What I discourage here at the CFTC is bringing enforcement actions without giving the tools they need to be compliant … I think there’s a lot of that happening right now.
She emphasized: “We’ve never designed a regulation that explains to these entities how they could achieve that registration. I would have preferred that we would not have brought those types of cases until we had better defined how they might achieve compliance.”
Several lawmakers have voiced similar concerns and have
SEC Commissioner Hester Peirce has also
Nonetheless, Stump said:
I do wish the SEC would [give] more specifics on how they arrive at the conclusion that some of these things are securities.
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