CFTC Adviser Chris Perkins Says U.S. Risks Falling Behind in Crypto
Featured SpeakerChristy Goldsmith Romero
CommissionerU.S. Commodity Futures Trading Commission
Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.
Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.
Featured SpeakerChristy Goldsmith Romero
CommissionerU.S. Commodity Futures Trading Commission
Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.
Crypto-focused VC CoinFund President Chris Perkins, also an adviser to the Commodities and Futures Trade Commission (CFTC), has published a regulatory white paper, and warned that the U.S. is at risk of falling behind in cryptocurrency.
The U.S. is trapped in the clutches of a reactionary wave of regulation following the collapse of the FTX exchange, while other jurisdictions are now opening to the opportunity and moving ahead, said Perkins, a member of the CFTC’s Global Markets Advisory Committee (GMAC). He noted the re-opening of Hong Kong to crypto and the arrival of MiCA, the European Union’s just-passed crypto assets regulatory framework.
“Other countries are starting to recognize the opportunity and are springing into action,” said Perkins in an interview. “CoinFund just sent a team to Hong Kong,” he continued. “It’s buzzing right now. Government officials are actually going to conferences and encouraging adoption at this point in Hong Kong as they open back up. Meanwhile, MiCA has arrived and the U.K. is springing into action, acknowledging that the Europeans are moving on MiCA.”
The white paper offers policymakers 10 recommendations, including calling for the regulation of centralized intermediaries but not decentralized technology, prioritizing sandboxes and safe harbor programs aligned with SEC Commissioner Hester Peirce’s proposals.
Edited by Stephen Alpher.
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Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.
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Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.