SPEECHES & TESTIMONY

Statement of CFTC Commissioner Brian Quintenz Regarding the Virtual Commodity Association

August 20, 2018

Given the absence of federal oversight jurisdiction in the crypto market, in February and again in March of this year I called on the crypto platform community to come together and develop a self-regulatory organization-like entity that could develop and enforce rules.[1]  I am pleased that progress has been made on such a concept.  Ultimately, an independent and empowered SRO-like entity could have a meaningful impact on the integrity and credibility of this young marketplace.  Today’s announcement is a positive step towards that realization.

 

[1] See Remarks of Commissioner Brian Quintenz before the Yahoo Finance All Markets Summit: Crypto (Feb. 7, 2018), https://finance.yahoo.com/video/cfct-dont-ever-want-no-185517150.html; Keynote Address of Commissioner Brian Quintenz before the DC Blockchain Summit (March 7, 2018), https://www.cftc.gov/PressRoom/SpeechesTestimony/opaquintenz8