Home / Cryptocurrency / CFTC’s First Published 2019 Examination Priorities Reveal Major Cryptocurrency Focus

CFTC’s First Published 2019 Examination Priorities Reveal Major Cryptocurrency Focus

United States regulator the Commodity Futures Buying and selling Fee (CFTC) has introduced cryptocurrency will shape a concern for its inner examinations this 12 months, in step with a press free up revealed on Feb. 12.

The CFTC, which has launched its exam priorities for the primary time in 2019, will come with more than a few crypto-related facets in its Department of Marketplace Oversight (DMO), Department of Switch Broker & Middleman Oversight (DSIO) and Department of Clearing & Possibility (DCR) papers.

In step with the clicking free up, the ones priorities bearing on cryptocurrency come with cryptocurrency surveillance practices, in addition to different marketplace and buying and selling surveillance together with real-time tracking.

“I commend DMO, DSIO and DCR management and personnel for his or her paintings to convey further transparency into the CFTC time table in an effort to make sure that registered marketplace members dedicate good enough compliance sources in line with our regulatory priorities,” CFTC chairman J. Christopher Giancarlo commented.

The transfer comes as cryptocurrency legislation continues in earnest each on the CFTC and counterpart the Securities and Change Fee (SEC).

As Cointelegraph reported, evaluations were blended over the approaches of the 2 regulators, accusations centering at the relatively heavy-handed means of the SEC. Others imagine the piecemeal issuance of laws has additional repercussions.

“This has hampered innovation and left many American companies in regulatory limbo, specifically with admire as to if or now not their tokens are categorised as securities,” former Republican Consultant George Nethercutt wrote in a piece of writing in January.

Cryptocurrency has already made it onto the radar of certification our bodies. In July ultimate 12 months, the CFA Institute showed the trade would seem in its personal assessments in 2019.

A central authority certification scheme for crypto brokers in Malta taken in October 2018 had a reported go charge of not up to 40 p.c.

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