Rostin Behnam believes that digital assets should and can be regulated in accordance with the current US legislation, for example, using the Howey test to evaluate the project. At the same time, the official agreed with the opinion that the activities of some participants in the cryptocurrency market are unique and require additional reflection. For example, this concerns the area of regulation of decentralized exchanges (DEX).
“Disputes about the methods of regulation of decentralized projects cause serious disagreements between politicians and heads of departments in the United States. This is due to the fact that there is a perception among officials that since there is no specific company or personality behind such sites, they are “just a program code.” This is the wrong question. In fact, we should talk about what exactly the sites offer customers in the US and what risks they expose people to. And also: who created the organization and wrote this code to offer decentralized products,” the CFTC chairman reasoned.
Rostin Benham assured reporters that his agency and the Securities and Exchange Commission (SEC) will continue to prosecute dishonest market participants, regardless of whether they operate autonomously or with the involvement of staff. Earlier, the CFTC chairman said that the agency intends to strengthen the team for monitoring compliance with legislative norms and tighten the regulation of the crypto industry in 2023.
Source: Bits
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