Crypto Statement from the US Commodities Agency (CFTC): Cryptocurrencies Can Change Risk Management!

US Commodities Agency (CFTC)recommended a reconsideration of risk management requirements. A commissioner emerged cryptocurrency He said the dangers must be taken into account.

US Commodities Agency May Change Risk Rules To Consider Cryptocurrencies

The U.S. Commodity Futures Trading Commission (CFTC) has proposed an overhaul of risk management rules.

Commissioner Christy Goldsmith Romero said the changes should insist that firms prepare themselves for crypto volatility and the risks that come from holding clients’ digital assets.

The CFTC released a proposal Thursday to invite comments on possible changes to the agency’s risk management program, and Romero said in a statement that “technologies such as digital assets, artificial intelligence and cloud services are also emerging as areas that may pose significant risk.”

“These technological advances, with the risks they bring, require the commission to reconsider our regulatory oversight, including our risk management requirements,” said Goldsmith Romero.

“The integration of digital assets with banks and brokerage houses and the risks that may arise may continue to evolve.”

Also, pointing to ongoing issues with the industry’s custody practices, he said, “brokers may explore holding client property in the form of stablecoins or other digital assets that could result in unknown and unique risks.”

The CFTC will receive public comments for 60 days on the “proposed rule-making pre-notification”, the preliminary stage of a rules process that must be followed by a formal, proposed rule followed by a vote on a final version.

*Not investment advice.

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