Nonprofit group Better Markets said a proposed U.S. Commodity Futures Trading Commission framework would bring certain cryptocurrency trades and exchanges under the agency’s oversight, but at a lower level of investor protection than rules enforced by the U.S. Securities and Exchange Commission. In its statement, Better Markets argued that the CFTC is the wrong agency to regulate retail crypto trading. The report was cited by Techub News and attributed to Cointelegraph. The statement centers on the gap Better Markets sees between the CFTC’s proposed approach and the SEC’s investor protection standards, rather than opposing regulation altogether. Its criticism is aimed at which regulator would take the lead over parts of the retail crypto market.
Better Markets, a nonprofit organization, said in a statement that a proposed regulatory framework from the U.S. Commodity Futures Trading Commission would place certain cryptocurrency trades and exchanges under CFTC oversight.
The group said that approach would leave investors with protections below the standards applied by the U.S. Securities and Exchange Commission. Better Markets said the CFTC is the “wrong agency” to regulate retail crypto trading.
The item was cited by Techub News and attributed to Cointelegraph.
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