.CFTC Commissioner cftcmersinger discusses why regulating crypto is likely to require more than just one agency at the helm. _franvela reports
The idea that crypto will be regulated by one government agency is unlikely, said Summer K. Mersinger, a commissioner at the Commodity Futures Trading Commission .
“It’s not going to be just a one agency solution,” said Mersinger Monday on CoinDesk TV’s “All About Bitcoin,” when asked about the regulatory ramifications for crypto from bankruptcies of FTX and BlockFi. “We probably need to work a little more closely with the SEC [Securities and Exchange Commission],” Mersinger said, adding that it would likely mean that the independent agency would also receive input from committees in Congress, including the agriculture and the banking financial service committees.Mersinger said it is also an opportunity for the CFTC to begin working at the state-level with jurisdictions that may have some familiarity with regulatory oversight.
“‘Are there regulatory gaps,”’ Mersinger asked. “We have identified that they do exist, but at this point, we really have to just stop and figure out all the facts involved, collect all the information and really get a handle on what's going on.”
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