SEC and CFTC Issue Vague Crypto Statement, But Lawyers Say Nothing Has Changed
- The SEC and CFTC issued a joint statement permitting registered exchanges to trade “certain spot commodity” cryptos
- However, crypto lawyer Bill Morgan called it a “nothingburger,” as crypto exchanges remain unregulated
- The statement fails to define “commodity,” leaving the core “security vs. commodity” debate unresolved
The SEC and CFTC issued a new joint statement on crypto, but prominent crypto lawyers are already calling it a “nothingburger.”
While regulators are celebrating the move as a major step forward, legal experts like Bill Morgan argue it does little to solve the core uncertainty facing the U.S. crypto industry, as it fails to provide a clear regulatory framework.
The Official Statement: What Did the Regulators Actually Say?
The joint statement, issued on September 2, appears to be a move to clarify the roles of the two agencies, but it…
The post SEC and CFTC Issue Vague Crypto Statement, But Lawyers Say Nothing Has Changed appeared first on Coin Edition.
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SEC and CFTC Issue Vague Crypto Statement, But Lawyers Say Nothing Has Changed
- The SEC and CFTC issued a joint statement permitting registered exchanges to trade “certain spot commodity” cryptos
- However, crypto lawyer Bill Morgan called it a “nothingburger,” as crypto exchanges remain unregulated
- The statement fails to define “commodity,” leaving the core “security vs. commodity” debate unresolved
The SEC and CFTC issued a new joint statement on crypto, but prominent crypto lawyers are already calling it a “nothingburger.”
While regulators are celebrating the move as a major step forward, legal experts like Bill Morgan argue it does little to solve the core uncertainty facing the U.S. crypto industry, as it fails to provide a clear regulatory framework.
The Official Statement: What Did the Regulators Actually Say?
The joint statement, issued on September 2, appears to be a move to clarify the roles of the two agencies, but it…
The post SEC and CFTC Issue Vague Crypto Statement, But Lawyers Say Nothing Has Changed appeared first on Coin Edition.
Read More
US Crypto Bill Draft Seeks Clarity on SEC-CFTC Roles, DeFi Rules