CFTCcommissioner Christy Goldsmith Romeroargued that it is wrong for crypto exchanges to act on their own.
USACommodity Futures Trading Commission ( CFTC ), wants to have more control in the crypto industry. regulatory agency, SEC has recently focused on cryptocurrencies. Cryptocurrency exchanges, in particular, have entered the regulators’ radar. CFTCcommissioner Christy Goldsmith Romeroargued that it is wrong for crypto exchanges to self-certify the cryptocurrencies they list.
CFTC Commissioner Stuck in Crypto Exchanges Approval Process
CFTCcommissioner Christy Goldsmith Romero , stated that crypto exchanges have not received any confirmation in their cryptocurrency listings. Romero found it wrong for exchanges to self-approve listings.
Calling the stock exchanges Romerodemands that crypto exchanges not self-approve the products they will list and pass them through the regulator.
Arguing that the current process is not sufficient to ensure appropriate oversight Romero, also said:
“I urge Congress to refrain from allowing newly regulated crypto exchanges to self-certify products for listing, as part of the current process limiting CFTC oversight.”
Moreover Romero noted that it is critically important to create railings against regulatory arbitration. He argued that self-affirmation and listing should be banned. RomeroAccording to , exchanges should act with regulators when making a listing.
