US regulators have explored the idea of a cryptocurrency self-regulatory organization (SRO) that would be overseen by both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Former CFTC Chair Timothy Massad discussed the viability of such a system with members of Congress at a digital assets hearing. Massad claimed in his opening testimony that Congress could instruct the SEC and CFTC to devise rules concerning investor protection, fraud prevention and other principles while overseeing existing SROs and imposing the costs on the industry through membership fees.
$1.05M Loss in 30 Days: Crypto Whale’s Unchecked Spending Spree Unravels!
Cryptocurrencies Accumulated In the world of cryptocurrency trading and investment, ‘whale’ is a term often used to denote an entity
