Crypto SEC has no jurisdiction over crypto, argued by former CTFC commissioner

[sincerem]

Former CTFC Chair Christopher Giancarlo said that CTFC is the only U.S regulatory agency that has the experience when it comes to regulating the Cryptocurrency market and not U.S SEC.

He said this, amid United States security and exchange securities (SEC) expanding its scope and network to regulating Cryptocurrency industry. The Chair of the commodity Futures trading commission (CTFC) said Cryptocurrency jurisdiction doesn't fall under the scope of the U.S SEC.

Current CTFC chairman Quintenz went further to twitter on Wednesday to announce that digital coins like BTC and others should be regulated mainly by the CTFC instead of SEC. He went ahead to state that Cryptocurrency are commodities that falls under the jurisdiction of CTFC, and not under SEC jurisdiction.

Do you agree with Quintenz and former CTFC chair 'Christopher that Cryptocurrency is a commodity that shouldn't be under jurisdiction of SEC?

 

[btaliat]

Stock exchange commissions are always concern with anything that had to dieneuth financial markets in a country. That's why they are I charge if stocks, shares and even foreign exchange in a country. But as novel as cryptocurrency is, there may not be any formal law that will be regulating the crypto activites.

 

[sincerem]

Stock exchange commissions are always concern with anything that had to dieneuth financial markets in a country. That's why they are I charge if stocks, shares and even foreign exchange in a country. But as novel as cryptocurrency is, there may not be any formal law that will be regulating the crypto activites.

I didn't get your points well dear. When it comes to CFTC bosses Quintenz and Christopher's voices,, they aren't representing the stock exchange platforms. They're simply representing digital currencies refuting that, SEC jurisdiction isn't right around the digital coins. That they aren't in pole position to be doing that, that they're the ones who should take proper proceedings when the owners if the coins are found guilty of wrongdoing.

 

[Alexandoy]

I think this topic is for the government officials who are handling the financial side of the government like the Central bank or the Finance department. They know full well what to do regarding the jurisdiction. A commodity that is rich in transaction can be under the SEC but there should be a law on that. The government officials cannot just act on their whims.

 

[Yugocean]

I disagree with both of them.
Cryptocurrency is computer generated complex mathematical codes, these ate non existing things. Both SEC and CTFC deals with something that exists.
However, if US government accept crypto as commodity to regulate, then CTFC will become right body for business, and if US governmen need SEC to protect interest of investors, keep the Business fair, then platforms like Coinbase, Binance will be under it.

 

[sincerem]

I think this topic is for the government officials who are handling the financial side of the government like the Central bank or the Finance department. They know full well what to do regarding the jurisdiction. A commodity that is rich in transaction can be under the SEC but there should be a law on that. The government officials cannot just act on their whims.

Hmm, another agency in the digital coin market is given such statement that SEC who are probing Cryptocurrency aren't doing the right thing. That they've taking jurisdiction away from them. That the are the rightful people that suppose yo take gull force to deal with any crypto coin that breaches the law governing Cryptocurrency operations.