CFTC Chairman: "the US must become a global leader in the crypto asset industry»
According to Law 360, CFTC Chairman Heath Tarbert believes the nation's financial authorities and the U.S. Congress should consider simplifying the regulatory framework for digital assets in America. Speaking at the conference, the President said that the United States should lead the "race of the block chain»:
"I think America should lead in this area. You can see that other countries are starting to invade this industry. As head of the regulatory body, I want to create a system in which innovation can flourish, and if any risks arise, we can deal with them."
Chairman Tarbert highlighted the convoluted nature of cryptocurrency regulation in the US as one of the industry's major concerns. According to Tarbert, all relevant agencies should work together to create a more streamlined regulatory environment for cryptocurrencies in the US. The CFTC Chairman pointed to several bills submitted to lawmakers as important steps in the process.
According to Tarbert, the U.S. Congress has a key role to play in deciding whether Federal or regional guidelines should influence cryptocurrency regulation in the country.