U.S. Commodities Agency May Change Risk Rules to Consider Crypto

The U.S. Commodity Futures Trading Commission (CFTC) has projected an overhaul of its rules for hazard management, and Commissioner Christy Goldsmith Romero said the changes should importune firms hole themselves for crypto volatility and the risks from holding customers’ integer assets.

The CFTC issued a proposal Thursday to invitation comments connected imaginable changes to the agency’s hazard absorption program, and Romero said successful a statement that “technologies similar integer assets, artificial intelligence, and unreality services, besides person emerged arsenic areas that tin transportation important risk.”

“These technological advancements, with their accompanying risks, necessitate the committee revisiting our regulatory oversight, including our hazard absorption requirements,” Goldsmith Romero said. “Integration of integer assets with banks and brokers, and the risks that could beryllium posed, could proceed to evolve.”

She besides flagged the ongoing issues regarding the industry’s custody practices, saying “brokers whitethorn research holding lawsuit spot successful the signifier of stablecoins oregon different integer assets that could effect successful chartless and unsocial risks.”

The CFTC volition instrumentality nationalist comments for 60 days connected its “advance announcement of projected rulemaking” – the preliminary signifier of a regularisation process that would person to beryllium followed by a formal, projected regularisation and past a ballot connected a last version.