CFTC boosts ‘crypto-friendly’ image with new two-day event exploring digital assets

US regulator to hold two-day crypto event in Washington on regulatory and safeguarding issues, among others.

The US Commodity Futures Trading Commission (CFTC) has announced a free-to-attend two-day event exploring cryptocurrency on 3-4 October.

The topics will include regulating crypto asset markets, evolving tokenisation and safeguarding digital assets.

Following the announcement, CFTC chairman Chris Giancarlo tweeted “This is going to be great!”.

The event will take place in Washington DC.

Without a classification of whether digital assets are securities or not, the regulation of cryptocurrencies has fallen somewhere in between the CFTC its counterpart the Securities and Exchange Commission (SEC).

Both have been vocal on the topic but the space remains largely unregulated.

Earlier this year, the CFTC’s former chairman Gary Gensler urged Congress to establish who should regulate the cryptocurrency cash market which underlines securities and derivatives.

Speaking at the House Agricultural Committee public hearing, Gensler highlighted issues with regulation, exchanges and resources given to regulators.

“There are gaps around the crypto exchanges themselves,” he said. “They are being regulated, right now, through state money transition laws, this approach regulating them like Western Union or MoneyGram is just not satisfactory because crypto activity is more complex.”

“The underlying crypto cash market is a mess. The CFTC is regulating derivatives but they are referencing an underlying market where at best is the Wild West.”