CFTC to focus on cryptocurrency market monitoring

The Commission will pay attention to cryptocurrency market participants.
Its priority is to ensure compliance of the regulated entities with applicable laws.

Tanya Abrosimova Independent Analyst

In 2019 the US Commodity Futures Trading Commission (CFTC) will pay attention to cryptocurrency market monitoring, according to the official press release, published on the website of the Commission.

The Division of Market Oversight (DMO) will be responsible for the respective procedure. This Division normally oversight the compliance of regulated futures markets with CFTC requirements and applicable legislation.

“This first-ever publication of division examination priorities is in line with Project KISS and other agency initiatives to improve the relationship between the agency and the entities it regulates, while promoting a culture of compliance at our registrants,” according to CFTC Chairman J. Christopher Giancarlo.

He also added that the initiative is developed within the framework of «KISS Project» (Keep It Simple Stupid), and other agency initiatives focused on improving the relationship between the agency and the regulated entities.

It is worth noting that in December CFTC decided to learn more about Ethereum and its underlying technology. In February 2019, the SEC started to investigate details of the leading blockchains.

In October 2018, Christopher Giancarlo said that cryptocurrencies would survive, but they would not compete with fiat money.

Author

Tanya Abrosimova

Independent Analyst

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