Who's Watching the Cryptocurrency Corral?
SEC or CFTC?
It doesn't matter.
It really doesn't matter which agency regulates tokens because all of them are premised on the same thing: A stock is a stock from the day its created. Under the Financial Innovation and Technology for the 21st Century Act which passed by a 279-136 vote the CFTC would regulate digital assets on a decentralized blockchain. Clearly cryptocurrency is not going away and neither are the governments efforts to regulate it In coming months and years we can expect growing focus on this rapidly developing area of the law.
The CFTC would regulate a cryptocurrency as a commodity if the blockchain or digital ledger on which it runs is functional and decentralized according to Congressional Research. Thus the CFTC concluded it has clear authority to regulate cryptocurrencies However even with this expansion of CFTC authority the CFTC has little to no power to regulate spot..
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