U.S. CFTC Commissioner: The Digital Assets Subcommittee Will Issue Regulatory Standards Recommendations Next Month

Odaily News U.S. CFTC Commissioner Caroline Pham said at Korea Blockchain Week that the Digital Assets Subcommittee plans to formulate regulatory standards for virtual assets (digital assets) in the next two years and will issue relevant recommendations on the 5th of next month. According to Pham, the goal of the subcommittee is to define digital assets. It emphasized that the key is to distinguish whether digital assets are financial assets or non-financial assets. Because digital assets can be non-financial assets, it is not omnipotent to implement the same supervision as financial assets. Pham also pointed out that there is a need to regulate DeFi, and in the case of code-based DEXs, regulatory issues can be discussed by focusing on algorithms. It is reported that the Digital Assets Subcommittee was established in February this year, chaired by Palm, and is responsible for formulating regulatory recommendations for digital assets. (Decenter)