SEC & CFTC Might Revive Their Joint Advisory Body To Regulate Crypto Better. Read More

The US government has decided to revamp its crypto policies to become more conducive and favorable towards crypto. This is a revolutionary stance the US government takes since it can help foster better growth for the crypto industry. As a result, the SEC and CFTC are looking to partner up and work on crypto regulation.  The news recently shared by a Fox News journalist, Eleanor Terret, claims these two organizations want to revive an old and inactive agency to help achieve their goal. 

The joint regulatory body of CTFC and SEC was formed in 2010 and helped these two agencies stay on the same page. This advisory body was formed to regulate and close financial gaps that caused the 2008 financial crisis.  Therefore, the committee was supposed to spot and mitigate risks before they reached a crisis level. However, the government pulled the plug on the agency in 2014 since priorities and leadership changed.  

Bringing Back From The Dead 

Per the report Terret shared, CTFC acting Chairperson Caroline Pham proposed to bring back the joint advisory committee. Pham claimed that this move could send a “strong signal of a new U.S. regulatory approach that is collaborative and cooperative.” However, neither of the organizations has commented on this. 

If the advisory board is set up, this could do good on Trump’s promise to make the USA the crypto capital of the world. Therefore, it can be a fiscal as well as a political masterstroke. In other words, it will help the crypto landscape and increase Trump’s popularity with the younger crypto-enthusiastic vote bank. Therefore, the advisory body could change the landscape in the upcoming years. Follow for more crypto news.