{"id":315925,"date":"2021-08-05T11:33:10","date_gmt":"2021-08-05T08:33:10","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sec-has-no-authority-over-crypto-cftc-commissioner-argues\/"},"modified":"2021-08-05T11:33:10","modified_gmt":"2021-08-05T08:33:10","slug":"sec-has-no-authority-over-crypto-cftc-commissioner-argues","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sec-has-no-authority-over-crypto-cftc-commissioner-argues\/","title":{"rendered":"# SEC has no authority over crypto, CFTC commissioner argues"},"content":{"rendered":"<p>&#8220;<strong># SEC has no authority over crypto, CFTC commissioner argues <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDgvYTRlMTZhZTYtMmVhYi00MTIyLWEyZTMtZDBjNTk4ZGJlNWE0LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>Amid the United States Securities and Exchange Commission\u2019s expanding the scope of oversight of the cryptocurrency industry, a commissioner with the Commodity Futures Trading Commission argued that crypto regulation doesn\u2019t fall under the SEC\u2019s jurisdiction.<\/p>\n<p>CFTC commissioner Brian Quintenz took to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> on Wednesday to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CFTCquintenz\/status\/1422912721637580803?s=20\">declare<\/a> that cryptocurrencies like Bitcoin (BTC) should be regulated by the CFTC rather than the SEC.<\/p>\n<p>Quintenz stressed that cryptocurrencies are commodities and thus fall under the CFTC\u2019s jurisdiction, as opposed to securities that are regulated by the SEC, stating:<\/p>\n<p>\u201cJust so we\u2019re all clear here, the SEC has no authority over pure commodities or their trading venues, whether those commodities are wheat, gold, oil\u2026.or crypto assets.\u201d<\/p>\n<p>Quintenz\u2019s remarks came just about half an hour after former CFTC Chair Christopher Giancarlo made a similar statement on Twitter, arguing that the CFTC is the only U.S. regulatory agency that has experience regulating markets for Bitcoin and crypto.<\/p>\n<p>\u201cIf the Biden Administration is serious about sensible cryptocurrency regulation, it needs to nominate a CFTC chairman,\u201d Giancarlo noted.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Only one US regulatory agency has experience regulating markets for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> &amp; <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> and it is not <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SECGov?ref_src=twsrc%5Etfw\">@SECGov<\/a>.  It is <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CFTC?ref_src=twsrc%5Etfw\">@CFTC<\/a>.  If <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BidenAdministration?src=hash&amp;ref_src=twsrc%5Etfw\">#BidenAdministration<\/a> is serious about sensible <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Cryptocurrency?src=hash&amp;ref_src=twsrc%5Etfw\">#Cryptocurrency<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/regulation?src=hash&amp;ref_src=twsrc%5Etfw\">#regulation<\/a>, it needs to nominate a CFTC <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/chairman?src=hash&amp;ref_src=twsrc%5Etfw\">#chairman<\/a>.<\/p>\n<p>\u2014 Chris Giancarlo (@giancarloMKTS) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/giancarloMKTS\/status\/1422904326775877639?ref_src=twsrc%5Etfw\">August 4, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>The U.S. House Committee on Agriculture, a standing committee in the U.S. House of Representatives, subsequently supported Quintenz\u2019s statement. The committee\u2019s official Twitter account <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/HouseAgGOP\/status\/1423040474504433664?s=20\">argued<\/a> that crypto is \u201cbigger than the SEC\u201d and that Congress \u201cneeds to write the rules of the road to protect investors and innovation in the digital economy.\u201d<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>&#8216;Nakamoto&#8217;s innovation is real,&#8217; says SEC Chair Gary Gensler<\/em><\/strong><\/p>\n<p>The new statements <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>arently come in response to recent remarks by SEC Chair Gary Gensler calling for increased regulatory oversight of the crypto industry to expand the regulatory scope with decentralized exchanges. Gensler reportedly <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-08-03\/will-government-regulate-crypto-sec-chair-gary-gensler-on-bitcoin-and-oversight\">outlined<\/a> that there\u2019s been much discussion about what kind of digital assets should fall under the SEC\u2019s purview as the authority previously confirmed that major cryptocurrencies such as Bitcoin and Ether (ETH) were not securities.<\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/sec-has-no-authority-over-crypto-cftc-commissioner-argues\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# SEC has no authority over crypto, CFTC commissioner argues &#8221; Amid the United States Securities and Exchange Commission\u2019s expanding the scope of oversight of the cryptocurrency industry, a commissioner with the Commodity Futures Trading Commission argued that crypto regulation doesn\u2019t fall under the SEC\u2019s jurisdiction. CFTC commissioner Brian Quintenz took to Twitter on Wednesday&#8230;<\/p>\n","protected":false},"author":1,"featured_media":315926,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDgvYTRlMTZhZTYtMmVhYi00MTIyLWEyZTMtZDBjNTk4ZGJlNWE0LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,75422,74863,74898,71511,70934,67874],"class_list":["post-315925","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-cftc","tag-cryptocurrencies","tag-sec","tag-government","tag-regulation","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/315925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=315925"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/315925\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/315926"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=315925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=315925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=315925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}