Regulation
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CFTC spokesman Christy Romero noted that the Commodity Futures Trading Commission treats Ether as a commodity, even with its transition to the Proof-of-Stake consensus algorithm. It is noteworthy that the American regulator previously sent a request to the US Congress to obtain expanded powers in the framework of the regulation of the cryptocurrency industry.
The head of the US Securities and Exchange Commission (SEC), Gary Gensler, agrees with such reasoning. According to the official, the ether falls under the jurisdiction of the CFTC. However, he stressed that by all indications, Ethereum can be considered a security to a greater extent. It is advisable to include all assets operating within the framework of the Proof-of-Stake consensus algorithm into this class, Gensler added.
CFTC Chairman Rostin Behman noted in the light of these events that cryptocurrencies are a conceptually new class of assets and the decision regarding their regulation should be made at the Federal level. The official added: The CFTC and SEC are trying to develop a rational approach in this area in order to comprehensively protect the rights of retail traders and investors.
Earlier, the editors of Crypto.ru announced: the head of the ECB, Christine Lagarde, during her recent speech, spoke about the concept of a digital euro. According to the official, the virtual asset must operate on a “limitless” principle in order to be able to reveal its technical potential within the framework of cross-border payments.
At the same time, Lagarde emphasized the importance of effective regulation of this asset. Also, the head of the ECB dispelled the misconceptions that the digital euro can replace the fiat currency.
According to the official, this is an unrealistic scenario, since most retail consumers are tied to cash.
#CFTC #Commissioner #Christy #Romero #Speaks #Ethereum
