CFTC Commissioner Christy Goldsmith Romero has asked the U.S. Senate to tighten a piece of crypto regulation, according to a Jan. 18 report from the Wall Street Journal.
Commissioner warns against self-certification
Goldsmith Romero said today:
“I urge Congress to avoid permitting newly-regulated crypto exchanges to self-certify products for listing.”
That advice concerns a bill — the Digital Commodities Consumer Protection Act (DCCPA) — which would grant self-certification powers to exchanges. This would allow exchanges to maintain substantial control over the specific crypto tokens they list for trading.
Goldsmith Romero asserted that self-certification could reduce the Commodity Futures Trading Commission’s ability to oversee cryptocurrency exchanges.
She also warned that self-certification could allow exchanges to avoid the reach of another regulator: the U.S. Securities and Exchange Commission.
As such, Goldsmith Romero urged the U.S. Senate to strengthen requirements fo
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