“It’s Time for Crypto Regulatory Action,” CFTC Commissioner Says

Summer Mersinger, Commissioner of the United States Commodity Futures Trading Commission (CFTC), advised that the time for action on cryptocurrency regulation Cryptocurrency may have arrived, as Mersinger said at the Texas Blockchain Summit on Nov. 18, considering what is needed for effective crypto regulation in the United States.

“Recently it’s probably 70-80% of what we talk about,” Mersinger said of crypto. We must gather facts. And we need to understand what’s going on. […] to drive the policy forward.”

Mersinger envisions moving forward in the process. “We are reaching a point where perhaps we have passed the study stage. And now it’s time to do it,” she said.

Real-time proof of reserves could be part of digital asset control in the future. “We expect that from our regulators. We don’t ask for it every day, but we can. And I think that’s fair,” Mersinger said, because regulators would know and be able to investigate.

meanwhile “Until a decision is made at the federal level, states are the first line of defense,” Mersinger said. We forget that states are the first and the first regulators here. And they play a big role.”

refer : LINK

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