Courts will provide 'good guidance' for crypto — CFTC commissioner

Kristin Johnson proposed several potential paths for handling digital assets in the United States — through Congress, having private companies address governance and the courts.

Buy physical gold and silver online

Kristin Johnson of the United States Commodity Futures Trading Commission (CFTC) said there are many ways of handling cryptocurrencies in the country, but legislating through courts could provide a solid, if slow, path.

Speaking at the Blockchain Association’s Policy Summit in Washington, D.C. 30, Johnson said the “best outcome” for corporate governance of crypto firms would be to have companies implement their own plans. She cited policymakers introducing reporting requirements for Binance as part of a $4.3 billion settlement with the crypto exchange.

According to the CFTC commissioner, Congress could also step in and provide clarification as to the definition of a security — one of the key points behind the U.S.

“If we rely on the courts we will get good guidance, but it won’t come quickly,” said Johnson.

Related: ‘Premier’ crypto cop CFTC reveals record-setting digital asset enforcement in 2023

Though the CFTC and SEC have both at times settled lawsuits with different crypto firms rather than going to trial, many companies have asked for their day in court.

Read more

About the author

Why invest in physical gold and silver?
文 » A