The Commodity Futures Trading Commission reported that controlling the digital asset market is a priority. In the United States, holistic regulation of the cryptocurrency market will be developed until 2024, the US Commodity Futures Trading Commission said. The agency has published a program of work for the next four years, which gives priority to the digital asset industry.
“We will develop a holistic foundation for promoting digital asset innovations … Financial markets are rapidly adopting new technologies, and our derivative markets are undergoing an amazing digital transformation,” the program says.
Initially, the Commission was in charge of regulating the market for derivatives on commodities and controlling fraud and manipulation in this area. Now the program notes that exchanges specializing in futures for digital assets also fall under the supervision of the department.
In February, US Treasury Secretary Stephen Mnuchin said bitcoin should not be used as a Swiss bank account. The politician also announced new legislative requirements for the cryptocurrency market and noted that regulatory tools should not impede the development of technology, but it cannot be ruled out that it can be used for illegal purposes.