CFTC Commissioner Summer Mersinger said at the 2024 Consensus conference that the implementation of the Financial Innovation and Technology for the 21st Century Act (FIT21) could take months or even years of coordination, involving multiple U.S. regulators.
The bill, which has passed the House and is facing a Senate challenge, seeks to clarify the regulatory responsibilities of the SEC and CFTC with respect to digital assets. SEC Commissioner Hester Pierce pointed out that congressional interest in cryptocurrency legislation stems from dissatisfaction with the SEC's regulatory approach. The Biden administration has expressed concerns about the regulatory gaps the bill could create.
CFTC commissioner: FIT21 bill may take a long time to implement
2024-05-30 21:53:11
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