Coinbase's Chief Policy Officer Urges Congress to Grant CFTC Authority Over Cryptocurrency Spot Market
Powered by ChatGPTAccording to Foresight News, as reported by Cointelegraph, Coinbase's Chief Policy Officer Faryar Shirzad has drafted a proposal urging the U.S. Congress to take swift action to introduce regulatory clarity and consumer protection for cryptocurrency users. Faryar Shirzad outlined six legislative priorities, including granting the U.S. Commodity Futures Trading Commission (CFTC) comprehensive authority over the cryptocurrency spot market. "Digital assets such as Bitcoin and Ethereum are commodities, not securities. Legislation must empower the CFTC to oversee the cryptocurrency spot market, ensuring transparency and protecting consumers from fraud and manipulation."
According to Foresight News, as reported by Cointelegraph, Coinbase's Chief Policy Officer Faryar Shirzad has drafted a proposal urging the U.S. Congress to take swift action to introduce regulatory clarity and consumer protection for cryptocurrency users. Faryar Shirzad outlined six legislative priorities, including granting the U.S. Commodity Futures Trading Commission (CFTC) comprehensive authority over the cryptocurrency spot market. "Digital assets such as Bitcoin and Ethereum are commodities, not securities. Legislation must empower the CFTC to oversee the cryptocurrency spot market, ensuring transparency and protecting consumers from fraud and manipulation."