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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.
The Commodity Futures Trading Commission (CFTC), which regulates the U.S. bitcoin and ether derivatives markets, plans to develop a digital asset innovation blueprint by 2024.
STORY CONTINUES BELOW
- “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.
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
