The US Commodity Futures Trading Commission, or CFTC, has issued a budget request for fiscal year 2023 (FY2023) asking for $365 million, representing a 9.9% increase from last year and 20% from fiscal 2021, which the country’s Futures Exchange Commission regulates. It has become increasingly active in recent years in overseeing financial products, including cryptocurrencies
According to the agency’s request document, the CFTC willfocusat the risk of custody of digital assets to ensure safe storage including the subject of the account The agency has its own employees who are Certified Public Accountant, abbreviated as CPA or auditor. But there is still a lack of guidance on digital asset accounting from regulators. “Strict separation of duties and procedures. To prevent collateral theft from employees [ของพวกเขา]” and there are plans to increase the education efforts extensively.
The CFTC currently relies heavily on whistleblowers to enforce the law, with Commissioner Rostin Behnam.tell to The Futures Industry Association this month said the agency had received more than 600 complaints since October that “many people have been exposed to cryptocurrency scams such as pump-and-dump schemes, denials of withdrawal requests, and romance scams.”
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