CFTC Commissioner Christy Goldsmith Romero explained that changes are needed as new digital technologies gaining popularity have introduced previously unaddressed risks into the country’s economy:
“Digital asset market risk management is paramount to US financial stability. This is evidenced by the recent bank failures, followed by government actions taken out of concern for the danger to other financial institutions and the broader negative economic impact. The CFTC intends to review the rules for regulatory oversight and risk management of participants in the crypto industry, including those related to the volatility of crypto assets, in the near future.”
The Commission is now studying public opinion to reassess its governance system in the following areas: the risk of creating a business model using digital assets; cyber risk; partnership risk; the risk of separating customer funds and maintaining counterparty collateral; financial and climate risks. As follows from the announcement, the CFTC is waiting for public comments and proposals within the next 60 days.
Earlier, the CFTC filed a lawsuit against five Americans who promoted a fraudulent, according to officials, Icomtech cryptocurrency scheme.
Source: Bits
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