WASHINGTON, D.C.— Benjamin Schiffrin, Director of Securities Policy for Better Markets, issued the following statement after the Commodity Futures Trading Commission (CFTC) indicated its intent to establish rules to give it jurisdiction over crypto transactions:
“The CFTC and the SEC are competing to see which agency is most subservient to the crypto industry. Just last week, the SEC proposed an entirely new regulatory regime for the custody of crypto assets that subjects such assets to weaker rules than traditional securities. Today, the CFTC indicated that it wants to adopt new rules to legitimize crypto assets and give the crypto industry what it has long desired—pushing aside the SEC, which was the global gold…
