CFTC Chairman Speaks About DeFi

As US regulators SEC and CFTC continue their pressure on the cryptocurrency industry, the latest target of this pressure is DeFi sector and platforms.

at this point CFTC Chairman Rostin Behnam‘s speech at the Futures Industry Association Fair in Chicago has been published.

According to The Block, the CFTC Chairman, who focused on the supervision of the decentralized finance sector in his published speech, compared the DeFi sector to “unlicensed doctors”.

“For the DeFi sector to be regulated, we must wait for victims to suffer and cry out for help to ensure critical market surveillance, strong cybersecurity and system protections, and customer protections are in place.

To give an analogy, consider whether you would entrust your health care to an untrained or unlicensed physician if given the choice.

“At this point, unregulated DeFi platforms are a threat to investors and CFTC-regulated platforms and protected customers.”

As you may remember, the CFTC announced three DeFi platforms in its statement in early September. Opyn, ZeroEx (0x Protocol) and Deridex He said that he accused him of offering illegal derivative trading to investors and launched an investigation against him.

At this point, the CFTC suspended Opyn and Deridex. cryptocurrencies He accused him of offering illegal leveraged commodity trading, failing to register as a futures commission investor, and violating consumer protection set out in the Bank Secrecy Act.

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