The US Commodity Futures Trading Commission (CFTC) chairman Chris Giancarlo said he doesn’t see comprehensive crypto legislation coming from the federal level in the near future, CNBC reported April 30. Earlier this day, the US Securities and Exchange Commission (SEC) Commissioner Robert Jackson called the initial coin offerings (ICO) market a prime example of an unregulated securities market vis-a-vis the issue of consumer protection in ICOs.
These statements can be read as another sign of the inevitable future regulation of cryptocurrencies. A common trend seems to show that there’s no turning back from government oversight into crypto dealings, and the US, Canada, and other players in the western hemisphere are paving the way for global understanding and regulation of digital markets.
The following assessment of cryptocurrency regulation in the Americas is part of a larger series of pieces evaluating regulation of the flourishing global fintech industry. Part one of the series looks at activity in Asian hotspots like Japan, Hong Kong, Singapore and Taiwan, and how governments are facilitating or hindering growth. Part two examined crypto regulation and the critical attitudes held by many European leaders.
Read more at: Coin Telegraph