Ethereum

Cryptocurrency

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/matt-hougan-advocates-for-regulatory-clarity-in-the-cryptocurrency-industry/" data-wpel-link="internal">Matt Hougan Advocates for Regulatory Clarity in the Cryptocurrency Industry</a><br></p>
<p style="text-align: justify">Bitwise CIO Matt Hougan expressed concerns regarding regulatory uncertainties in the <a href="https://en.coin-turk.com/crypto-market-could-collapse-if-financial-trend-materializes-analyst-claims/" data-wpel-link="internal">cryptocurrency</a> industry. He noted that ongoing debates about whether <a href="https://en.coin-turk.com/us-rejected-law-requiring-crypto-investors-to-report-provided-they-meet-this-condition/" data-wpel-link="internal">crypto</a> assets should be classified as securities or commodities negatively affect the sector. Hougan argued that these uncertainties hinder the cryptocurrency sector from reaching its full potential.</p> 
<h2 id="main-issues-of-cryptocurrencies">Main Issues of Cryptocurrencies</h2> 
<p style="text-align: justify">Hougan mentioned that the U.S. regulatory framework categorizes financial assets into two groups: securities and commodities. Securities are regulated by the Securities and Exchange Commission (<a href="https://en.coin-turk.com/india-takes-significant-steps-for-its-cbdc/" data-wpel-link="internal">SEC</a>), while commodities fall under the Commodity Futures Trading Commission (CFTC). He emphasized that securities are typically assets that contain insider information not available to the public.</p> 
<p style="text-align: justify">In contrast, he described commodities as assets that do not possess insider information, such as gold or oil, and thus are regulated differently. He indicated that the CFTC focuses on ensuring fair markets without requiring detailed financial disclosures as seen with securities.</p> 
<h2 id="the-role-of-cftc">The Role of CFTC</h2> 
<p style="text-align: justify">Hougan asserted that decentralized crypto projects should be regulated by the CFTC instead of the SEC. He stated that the CFTC’s aim of creating fair markets without insider disclosures is more suitable for decentralized networks like Bitcoin and Ethereum .</p> 
<p style="text-align: justify">Ripple CEO Brad Garlinghouse criticized former SEC official John Reed Stark’s claim that XRP is a security. Garlinghouse highlighted that Stark’s comments are “provably incorrect” and that XRP does not qualify as a security under current laws.</p> 
<p style="text-align: justify">Hougan warned that the SEC’s strict approach could stifle innovation, trapping good projects in regulatory crossfire alongside bad actors. He stressed the need for a customized regulatory approach that considers the unique nature of blockchain technology. This approach would protect investors while fostering innovation.</p> 
<p style="text-align: justify">Bitwise CIO Matt Hougan underscored the importance of achieving regulatory clarity for the cryptocurrency industry to reach its full potential.</p> 
<p>The post <a href="https://en.coin-turk.com/matt-hougan-advocates-for-regulatory-clarity-in-the-cryptocurrency-industry/" data-wpel-link="internal">Matt Hougan Advocates for Regulatory Clarity in the Cryptocurrency Industry</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Matt Hougan Advocates for Regulatory Clarity in the Cryptocurrency Industry

Table of Contents

COINTURK NEWS

Other articles published on Dec 10, 2024

🚀 $HODL Relaunch: Stronger, Smarter, and Ready for the Future 🔥

Crypto Fear & Greed Index Stays at 78, Signaling Continued ‘Extreme Greed’

Dan Tapiero Predicts Boom for US-Based DeFi Sector

Crypto Market Sees $1.76B in Liquidations as BTC dips to $95k

Top Crypto Whales Pivot to This Token: A $0.0011 Bet for a 10,000x Return!

Weekly Article Recap: 11/25-11/29

Join our free newsletter for daily crypto updates!