ICYMI: Congress’s agriculture committees request information on digital assets from the CFTC
CFTC chair Rostin Benham on Dec. 15. Benham served as acting chair during the transition of the Biden administration and served as a commissioner since 2017. He replaced Heath Tarbert, who many in the crypto industry saw as an ally.
It details specific risks in the space, asserting that there has been an uptick in consumer reports of losses to crypto scams. The letter also points out that decentralized finance protocols present an opportunity for more frictionless services, but regulators have yet to fully address the risks DeFi presents.
funds, and ensuring parties meet their obligations to one another," said the letter."We also are concerned about any DeFi protocols offering derivatives contracts on unregistered exchanges—the subject of a recent CFTC enforcement action."
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