CFTC Commissioner Encourages Formation of Self-Regulatory Organization for Cryptocurrency Spot Platforms

Cryptocurrencies have generated a fair amount of interest from the financial sector – and in turn, from regulators. A cohesive approach to regulating this developing asset class has yet to emerge, however. In a recent speech delivered before the Eurofi High Level Seminar 2018, CFTC Commissioner Brian Quintenz examined the role of regulators such as the CFTC during periods of technological change, the use of blockchain technology by financial services firms and current approaches to cryptocurrencies by U.S. and global regulators. He also called for the formation of a self-regulatory organization by cryptocurrency spot platforms to enforce customer protection rules in spot commodity markets. This article highlights the key points from Quintenz’s remarks. See also “Virtual Currencies Present Significant Risk and Opportunity, Demanding Focus From Regulators, According to CFTC Chair” (Feb. 14, 2018).

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