U.S. is not moving fast enough to develop a CBDC, says former CFTC chair
“We should act now to improve access to financial services through other means as well — the need is too great," said Tim Massad. Tim Massad, who served as chair of the Commodity Futures Trading Commission until 2017, said the United States is too slow in developing a plan to modernize its payment systems.In a Wednesday hearing of the Joint Economic Committee on the role of digital assets in government, Massad said a central bank digital currency, or CBDC, could be one solution for the United States to improve its existing payments systems, which he referred to as “slow” and “expensive.”....
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D’Agostino also said the recent battles between the SEC and CFTC is a good thing for crypto because it indicates that it will be a “vitally important piece of market structure” moving forward. Institutional adoption of digital assets is “moving very, very fast,” and much faster than the rate nascent industries ordinarily develop at, says Coinbase Senior Advisor John D’Agostino.In an Oct. 18 interview with SALT moderated by Anthony Scaramucci, D’Agostino said that new asset classes often take time to develop, as “institutional inertia is a very real thing” and “there’s a lot of switching....
In a recent interview at Coinbase’s State of Crypto Summit, the Commodity Futures Trading Commission (CFTC) Acting Chair shared the future of the agency’s crypto regulation under the pro-industry administration. Related Reading: A ‘Threat To Privacy’? US Senators Question Meta’s Stablecoin Plan In New Letter CFTC Won’t Criminalize Crypto On Thursday, CFTC’s acting chair, Caroline Pham, […]
On Tuesday, Acting Chair Caroline Pham of the US Commodity Futures Trading Commission (CFTC) announced a significant initiative aimed at enhancing guidance on crypto regulation. This initiative involves seeking nominations for the newly formed CFTC CEO Innovation Council, with a submission deadline set for December 8. During her prepared remarks, Pham emphasized that the council […]
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has asked SEC staff to collaborate with the Commodity Futures Trading Commission (CFTC) to develop a new plan to regulate cryptocurrency trading platforms.
SEC Wants to Work With CFTC on Regulating Crypto Exchanges
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, talked about the regulation of cryptocurrency Monday at an event hosted by the University of Pennsylvania Carey Law School.
“The SEC’s remit is overseeing the capital....
Days after the arrest of Do Kwon, the founder of Terra Labs, on fraud charges, Montenegro announced its intention to develop a central bank digital currency (CBDC) in partnership with Ripple, a blockchain company. Montenegro Partners With Ripple For CBDC Montenegro has expressed interest in digital currencies and approached Ripple to develop a pilot program and […]