The cryptocurrency debate in the USA continues at full speed. A Commodity Futures Trading Commission (CFTC) member voiced the idea for a new regulation.
CFTC member Christy Goldsmith Romero cryptocurrencies He touched on another issue besides regulation. Romero believes that the regulation of cryptocurrencies will definitely happen. However, there is another problem, according to the member. Investors are not trading consciously enough.
Romero thinks they need to identify a new type of investor to solve this problem.
“Crypto investors are different from traditional investors. User awareness is lower. For this reason, we must create a new investor class.”
According to the CFTC member, unconscious investors especially derivative Must have knowledge of the process. For this, crypto exchanges should determine whether they are suitable or not by conducting a test to their users before offering derivatives.
FTX Founder: I Support This Idea!
One of the largest crypto exchanges in the USA of FTX founder and CEO Sam Bankman-Fried supports Romero’s statements.
Bankman-Fried quoted the CFTC member’s tweet on Twitter, saying that knowledge-based tests are good for investors.
100% agree on disclosures, knowledge tests, etc.
FWIW I don’t know that it necessarily makes sense to be crypto-specific–I think that having, at least, mandates for disclosures and for knowledge-based tests for all FCMs/DCMs facing retail could make sense. https://t.co/kA5229Bzm9
— SBF (@SBF_FTX) October 15, 2022
The CEO of FTX finds the idea of applying this idea only to the cryptocurrency space strange. Finally, the CEO praised FTX, stating that they had implemented this test on their exchanges before.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!