Caroline Pham, interim president of the Commodity Futures Trading Commission (CFTC), announced her intention to hold a series of public round tables to collect comments on various market issues, including those related to the crypto.
CFTC round tables will engage with industry leaders, market players and public interest groups to discuss development trends and innovations in the market structure.
Round table discussions on the cryptography market
In an opinion published today by the CFTC, PHAM has announced that the CFTC would organize discussions on issues such as affiliated entities and conflicts of interest, prediction and digital assets.
Round tables are intended to increase transparency and public commitment in the CFTC policies development process.
“Innovation and new technologies have created a renaissance on the markets which presents new opportunities accessible to more people, as well as at risk. The CFTC will return to the basics by hosting the staff round tables that will develop a robust administrative file with studies, data, expert reports and a contribution from the public. A holistic approach to the evolution of market trends will help establish clear road and guarantees rules that will promote American economic growth and American competitiveness, “said Pham.
These discussions will bring together industry leaders, market players, market structure experts and representatives of public interest groups. The objective is to engage in an open and transparent dialogue on the main market problems.
Depending on the notice, the CFTC will soon provide more details concerning the specific dates, hours and subjects for these round discussions.
Less than a week ago, the CFTC commissioners elected Pham as a new actor’s actor president after the inauguration of President Trump. Previously, Pham had been CFTC commissioner since April 2022.
PHAM replaced the former president of the CFTC, Rostin Benham, who will remain at the CFTC until February 7. As the Senate confirms, it will continue to direct the CFTC until Trump appoints a permanent chief of the regulator.
“The acting chair Pham attracts large dogs – industry leaders, groups and other stakeholders – to dive into disorderly stuff such as conflicts of interest. It is a question of building clearer rules and maintaining us competitiveness on the point. These round tables could completely change the functioning of crypto under the law, so keep your eyes open for updates, “wrote Mario Nawfal on X (formerly Twitter).
Pham has long supported friendly regulations. A year after joining the CFTC, she delivered a very pro-Crypto speech at the Cato Institute. In this document, she stressed that the CFTC should follow the same regulatory approach to the cryptocurrency market that it applied to other emerging asset classes.
According to PHAM, cryptographic regulations lack clarity and proactive railings. It also discussed the need for “responsible innovation” and a “compliant” digital asset market.
Recent CFTC regulations in the cryptographic sector
In the United States, digital asset regulations are divided between two main agencies: the CFTC and the SEC.
The CFTC jurisdiction extends mainly to cryptographic assets classified as basic products under American law. This includes cryptocurrencies such as Bitcoin and Ethereum.
The regulatory authority of the Commissioner specifically includes derivatives of raw materials, which include financial contracts derived from underlying products. Its responsibilities include contracts and term Crypto, which are derivatives based on the price of cryptocurrencies.
Earlier this month, reports suggest that the regulator examined the Crypto.com sports betting. The contracts, attached to the Super Bowl, face a meticulous examination in the midst of increasing concerns concerning the prediction markets.
The CFTC performs a 90 -day examination of these contracts. Although the agency does not have the power to immediately stop exchanges, it can prohibit these contracts at the end of the examination process.
On January 9, the CFTC would have published an assignment to Coinbase, the greatest exchange of American crypto. The regulator is looking for information on the prediction market platform based on Crypto Polymarket.
Although users are not required to take immediate measures, the exchange said that certain user account data may be necessary to be shared with the regulatory agency.
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