From Coindesk
The head of the Commodity Futures Trading Commission said during a Senate hearing on Thursday that any federal-level approach to cryptocurrency regulation should be "carefully tailored" to the risks involved.Read more: https://www.coindesk.com/cftc-chair-us-tread-carefully-crypto-exchange-rules/The comments by CFTC chairman J. Christopher Giancarlo, issued before the Senate Agriculture, Nutrition, and Forestry Committee, came days after he and Securities and Exchange Commission chief Jay Clayton testified before the Senate Banking, Housing and Urban Affairs Committee on the topic of cryptocurrency oversight.
The two notably spoke to what they said were gaps in the state-by-state system for licensing cryptocurrency businesses, with Clayton suggesting at the time that "we may be back with our friends from the U.S. Treasury and the Fed to ask for additional legislation."
Giancarlo told lawmakers on Thursday that federal regulation around exchanges ought to be "carefully tailored, going on to say:
"Any proposed Federal regulation of virtual currency platforms should be carefully tailored to the risks posed by relevant trading activity and enhancing efforts to prosecute fraud and manipulation. Appropriate Federal oversight may include: data reporting, capital requirements, cyber security standards, measures to prevent fraud and price manipulation and anti-money laundering and 'know your customer' protections."
The good news from the richest market in the world keeps on coming. We are witnessing a huge tilt and signs of a huge surge to come. SEC and CFTC have given promising statements and today Jamie Dimon and George Soros both announced long term investments in Bitcoin.
HODL on folks we haven't seen anything yet.
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