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The CFTC seems to think it would be perfectly competent to handle the situation too. I don't think the only options are federal legislation or the (allegedly) o

by smeej 2y ago

The CFTC seems to think it would be perfectly competent to handle the situation too. I don't think the only options are federal legislation or the (allegedly) overreaching SEC.

JumpCrisscross 2y ago
> CFTC seems to think it would be perfectly competent to handle the situation too The way these businesses are run, it probably does too. A good amount of effort in finance goes into avoiding unneeded regulatory duplication. But if you’re a you’re a bank you get both the FDIC and SEC, a public drug manufacturer the SEC and FDA; if you’re selling crypto through your brokerage app, the SEC and CFTC.
- smeej 2y ago
  Perhaps at the level of exchanges, sure, but for each individual token, it can't be both a commodity and a security at the same time, and the CFTC and SEC keep stepping on each other's toes.
  - JumpCrisscross 2y ago
    > it can't be both a commodity and a security at the same time Why not? Mixed swaps are dual regulated, for instance [1]. [1] https://katten.com/CFTC-SEC-Finalize-Swap-Product-Definitions https://katten.com/CFTC-SEC-Finalize-Swap-Product-Definition...