CFTC commissioner says foreign discussions over crypto standards are underway

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CFTC Commissioner Caroline Pham said in an interview with Bloomberg that multiple countries are discussing global crypto regulation. January 17th.

Pham said he recently met with several international regulators to discuss the implementation of cryptographic standards around the world.

Pham explained:

“[I’ve been] We are talking with international policy makers about what standards can be set at the global level and how we can close the gap…I have had over 75 meetings and have been very active on this is being highly debated. “

It is unclear whether each of these meetings involved policymakers from different jurisdictions or whether there were several repeated meetings within the same jurisdiction.

When Bloomberg was asked about current events in the crypto industry, specifically the ongoing conflict between Genesis and Gemini, Pham said the issue was a “concern.” She said all regulators should use their current powers to clarify what constitutes virtual financial instruments and virtual non-financial activities. Appropriate regulatory and legal frameworks should apply, she said.

Pham also confirmed that the CFTC has existing regulators it can use. However, she hopes the CFTC will provide more guidance to cryptocurrency companies in 2023, rather than “just be happy with the status quo.”

Pham also explained efforts to enable the CFTC to regulate digital assets. Pham said he was an Advocate for Retail, where he was responsible for creating the office, and Global, where he sponsored the Markets Advisory Board. She also aims to build her ten foundations of a responsible digital asset marketplace, she said. published last summer.

Pham previously released a statement on a high-profile cryptocurrency lawsuit. On January 10, she commented on the charges her CFTC has filed against her Mango Markets hacker, Avraham Eisenberg. At the time, she noted that products on digital asset exchanges are considered derivatives and may be subject to CFTC jurisdiction.

On Dec. 21, she commented on the CFTC charges against FTX associates Caroline Ellison and Gary Wang, shortly after SDNY released its own charges. She called these deployments her FTX’s “important steps for justice for victims.”

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