CFTC Chairman Affirms Regulatory Authority over DeFi Platforms Offering Derivatives

05/18 16:20

The chairman of the Commodity Future Trading Commission (CFTC) has stated that decentralized finance (DeFi) platforms that offer derivatives services will be regulated by the CFTC. While various governments are working on crypto regulations, the US has not yet established a specific regulatory framework. The CFTC chairman believes that if DeFi products offer derivatives to US customers, they must register with the CFTC. He also believes that crypto should follow the same regulatory playbook as traditional finance. While the SEC is unwilling to clarify crypto regulations, all 27 members of the European Union have approved the Market in Crypto-Assets (MiCA) legislation for crypto regulation.
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