CFTC

“We need Congress to pass some legislative framework that puts the puck in one side of the arena, a rink or the other. And otherwise, otherwise all this gray is going to exist for a long time.”

“Another key piece of our agenda has also been modernizing and upgrading our rules and regulations for on-chain software systems, blockchain networks, and other types of Digital asset products regardless of legislation.”

“And so now is the time to put out guidance and make sure that we're not regulating by enforcement as the prior administration did. But we are setting standards. We are making clear what our statute says, and that is that these contracts cannot be listed if the…”

“So I compare it to two fortresses with no man's land in between. And so the no man's land is littered with the bodies of would be products that people were unsure. Like, is it CFTC? Is it SEC? And the crossfire between the two just killed the products.”

“Right around twenty-twenty-one, twenty-twenty-two, every week my clients would get a subpoena from Gary Gensler or from the CFTC, and were faced with this onslaught of regulation by enforcement. They were faced with regulations that did not work for their busi…”

“Having a regime in place that says, go build, don't ask us for permission, but we need to study that work with the market participants, understand the risks and On our end, we need to set up guardrails.”

“We have a memorandum of understanding that the two agencies are working on hammering out and getting In place that will allow us to share information, coordinate on specific issues, and make sure that we don't have this turf battle between the two agencies goi…”

“There was one part of FTX that didn't implode with the rest of it. And that was their investment in a swaps trading platform called ledger X was, which was supervised by the CFTC and examined and they had they had their accounts segregated and all that. So no …”

“So my dream is one day that, and I hope we can achieve that here in the next couple of years to have like a super app approach where, you know, there is, okay, blurred lines between the two, but we've coordinated our approach.”

“From my perspective one thing for new products that the CFTC has is called self-certification. So for repetitive products that you know, once you go ahead and approve the general type of framework for it then it's self-certification by the markets and by the p…”