Economic Studies at Brookings yesterday dropped a call for better regulation of the cryptocurrency and digital assets industries by none other than Tim Massad, the former chairman of the CFTC. As befits the former head of an agency that embraced principles-based regulation, Massad’s paper is long on analysis of the industries and the regulatory issues that seem to afflict business conditions.
The institutionalization of the crypto market is going to take some time – be patient.
Panelists on the cryptocurrency panel at FIA Boca said there is still infrastructure building that needs to be done before the asset class becomes mainstream.
Chris Giancarlo will go down as perhaps the most popular regulator in industry history. The CFTC chairman, who will step down this year after joining the agency in January 2017, gave his farewell address at the FIA Boca conference this year with a focus on the agency’s achievements during his term.
Murphy & McGonigle Launches New Commodities & Futures Division To Help Firms Deal With Regulatory Challenges
These days, traders need good lawyers. They are a must-have in the age of regulatory overreach after the Dodd-Frank law, and for comprehending and complying with the rules as they get refined and re-tuned and as crypto markets come into the mix.
Two years ago I wrote about the Commodity Futures Trading Commission enforcement action against Don Wilson and his company DRW Investments alleging price manipulation in certain financial instruments.
There are traders who put their careers on the line every day in the markets. And then there’s Don Wilson, who put his career and firm on the line in court with the Commodity Futures Trading Commission, and won.