CFTC officially launches a new phase in the digital asset management campaign, collaborating with SEC to promote legal spot digital asset trading.
The U.S. Commodity Futures Trading Commission (CFTC) is taking the next step in refining cryptocurrency regulatory policy to realize proposals from the presidential task force. The public is invited to provide feedback before October 20.
MAIN CONTENT
CFTC announces the next phase of the digital asset management plan.
Collaborating with SEC in the project to promote legal spot digital asset trading.
The community can submit feedback until October 20.
What is the new phase that CFTC officially launches in the digital asset management process?
CFTC has begun implementing a new phase of its regulation campaign regarding digital assets based on recommendations from the presidential task force on digital asset markets. This is a move to refine the legal framework for the cryptocurrency sector in the U.S.
This campaign is considered a continuation of a long-term regulatory process, aiming to create transparent and effective standards to protect investors as well as stabilize the market.
How does CFTC collaborate with SEC through Project Crypto to promote legal spot digital asset trading?
CFTC is committed to closely collaborating with SEC within the framework of Project Crypto to promote and accelerate spot digital asset trading at the federal level. This collaboration helps synchronize regulatory policies between the two agencies and create a clear legal environment for the market.
The coordination also aims to limit the risks of circumvention and facilitate legal trading activities in the digital asset market, thereby increasing effective liquidity and ensuring safety for investors.
"The merger of regulatory efforts between CFTC and SEC will help create a sustainable, transparent legal framework for the digital asset sector, promoting the healthy development of this market."
Caroline D. Pham, Acting Chair of CFTC, August 22, 2023
What are the deadlines and methods for the community to participate in providing feedback for CFTC's management plan?
CFTC opens its website for public feedback on digital asset management proposals. The deadline for submitting opinions is October 20, 2023, reflecting transparency and connectivity in the policy drafting process.
Through this form, CFTC hopes to receive diverse feedback from investors, experts, and organizations to increase practicality and relevance when implementing new regulations.
What are the potential impacts when CFTC and SEC collaborate to regulate the digital asset market?
The collaboration between the two agencies is a breakthrough in monitoring cryptocurrency transactions. It not only helps avoid legal conflicts but also enhances investor protection through strict regulatory standards.
The reality shows that when there are synchronized and clear regulations, liquidity in the digital asset market improves, minimizing illegal activities such as money laundering or fraud, thereby enhancing the credibility and sustainable development of the entire industry.
Frequently Asked Questions
What is the CFTC and its role in digital asset regulation?
CFTC is the U.S. Commodity Futures Trading Commission, responsible for supervising derivative asset markets and expanding regulation to electronic assets to ensure transparency and safety.
What is the SEC's Project Crypto?
Project Crypto is an initiative by the SEC aimed at enhancing regulation and oversight of the cryptocurrency market, protecting investors, and promoting fair and transparent development.
How to submit feedback on CFTC's digital asset management plan?
The public can submit direct feedback on the CFTC's official website before October 20 to contribute to the refinement of regulatory policy.
Why is the collaboration between CFTC and SEC important?
Collaboration helps avoid overlaps, creates a unified legal framework for digital assets, increases trust, and effectively protects investors.
What impact does the new management plan have on individual investors?
Investors benefit from clear regulations, minimizing fraud risks, making trading safer and more transparent.
Source: https://tintucbitcoin.com/cftc-my-kiem-soat-tai-san-tien-dien-tu/
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