US CFTC commissioner calls for new category to protect small investors from crypto

12/01 06:27

United States Commodity Futures Trading Commission (CFTC) commissioner Christy Goldsmith Romero spoke at the Futures Industry Association Asia Derivatives Conference in Singapore on Nov. 30. “Protecting household retail investors starts with redefining who is a retail investor,” Goldsmith Romero said. Crypto investors are different, she said: “Most are young-born after 1980, diverse, and make less than $50k a year. That is not the typical customer that the CFTC is used to seeing.” Thus, they should not be treated the same, Goldsmith Romero reasons. “we also should not let them be crushed, which will happen without meaningful and targeted customer protections,” she said, while acknowledging the need to maintain financial inclusivity. Goldsmith Romero suggested creating two categories of retail investor “separating household retail from professional and high net worth individuals.” After that the CFTC would provide consumer protections across that division and for each categories individually.
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