The US Commodity Futures Trading Commission (CFTC) included the development of the regulation of crypto assets as one of the priorities of its strategic plan for the next four years.
The document describes digital assets as “21st-century commodities.”
“We will develop a holistic framework to promote responsible innovation in digital assets. Аinancial markets quickly adopt emerging technologies, and our derivatives markets have experienced an amazing digital transformation that presents opportunities as well as risks,” the strategy says.
The final version affects the period until 2024 when the term of office of the current CFTC chairman Heath Tarbert expires. The role of the department is to create regulation and supervision of the commodity market.
Recently, Heath Tarbert explained that the department he heads is ready, in addition to bitcoin, to add futures to other cryptocurrencies. But this requires the approval of the Securities and Exchange Commission (SEC).
The new guidelines are aimed at “harmonizing rules for market participants falling within the CFTC and SEC competencies”.