Former CFTC Chairman proposes creation of a crypto self-regulatory organization supervised by SEC and CFTC

Odaily News: Former chairman of the US Commodity Futures Trading Commission (CFTC), Timothy Massad, has proposed the creation of a self-regulatory organization (SRO) to address the regulatory challenges surrounding cryptocurrency. This organization would be supervised by the Securities and Exchange Commission (SEC) and the CFTC, and would establish a set of universal investor protection standards for cryptocurrency intermediaries and the digital assets traded on them.



Massad added that he is not concerned about other jurisdictions surpassing the United States in this regard and noted that the implementation of new laws such as the European Union's Markets in Crypto Assets (MiCA) regime will be more complex than anticipated. (Fortune)