CFTC Hints at Future Digital Asset Regulatory Framework
The U.S. commodities regulator has a four-year plan for fostering responsible innovations in the crypto asset space.
Jul 9, 2020 at 3:34 p.m. UTCUpdated Aug 19, 2021 at 3:00 a.m. UTC
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- “We will develop a holistic framework to promote responsible innovation in digital assets,” the swaps regulator teased in its 2020-2024 Strategic Plan, released Wednesday.
- This “holistic framework” will help keep the CFTC apace with the “risks and opportunities” of these so-called “21st century commodities,” the regulator said, though it was unclear at press time how far the document will ultimately go.
- Chairman Heath Tarbert called for “principles-based regulation” of blockchain and digital assets in a June essay published by the Harvard Business Law Review, writing there that “overly prescriptive rules could stunt the development of this important market.”
- On a related front, CFTC announced Thursday it will host three fintech-focused virtual events this fall, including one talk on the future of finance and another on how regulators respond to financial innovation.
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