CFTC Head Urges Congressional Action on Crypto while SEC Leader Says Crypto Rulemaking is “Years Away”

Both the head of the Commodity Futures Trading Commission (CFTC) and leader of the SEC agree that the crypto markets need regulating, and specific rules may help clarify which agency has authority to regulate various cryptocurrency activities. The client alert below discusses both CFTC Chairman Rostin Behnam’s comments and SEC Chair Gary Gensler’s remarks during congressional testimony on September 15.

The uncertain regulatory and statutory outlook present both problems and opportunities for the cryptocurrency market. These circumstances underscore the vital role that outside counsel can play in helping companies and individuals continue to innovate and succeed in the cryptocurrency market while attempting to minimize litigation and regulatory risk.  

Read the full client alert here.