CFTC commissioner: Agency doesn’t have enforcement resources without Congress
Cointelegraph
Published Sep 21, 2021 05:31PM ET
Updated Sep 22, 2021 07:40PM ET
Dan Berkovitz, one of three commissioners currently serving at the U.S. Commodity Futures Trading Commission, or CFTC, said while the agency is suited to futures contracts, swaps, and options trading, it would need additional resources to handle the cash market for crypto assets.
Speaking at the Managed Funds Association Digital Assets Conference on Tuesday, Berkovitz said the Commodity Futures Trading Commission enforcement actions in the crypto space have been “aggressive,” citing a $100 million civil monetary penalty against derivatives exchange BitMEX. Though he said the agency had the “capability and the expertise” to further regulate crypto assets, it was currently unable to do so due to a “resource issue.”
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Written By: Cointelegraph
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