Former Bakkt CEO and current Senator Kelly Loeffler's membership on the committee overseeing the Commodity Futures Trading Commission presents a potential conflict of interest, but also gives the cryptocurrency industry a knowledgeable and friendly seat at the table.
The Commodity Futures Trading Commission’s Enforcement Division paid for itself four times over in fiscal year 2019. In fact, the $205 million in fines it assessed covered 80% of the agency’s $249 million total budget. The division also said policing digital assets had become one of its main goals. While it didn’t break down how much of that came from cryptocurrency and digital assets cases...
Members of Congress love to drag the CEOs of large companies into hearings to show off in front of their constituents. The best recent example is the grilling of Facebook's Mark Zuckerberg over the company's Libra cryptocurrency project. Now, this over-the-top political production is threatening to spoil a good opportunity to provide the regulatory clarity so desperately needed by the cryptocurrency industry...
In condemning the fraud, CFTC Chair Heath Tarbert said digital assets ‘hold great promise for our economy’
