Crypto, regulate thyself
— Eu, Reupping, Drawing, Creating, Figure, Nasd, Makes, Regulating — 1 min read
Sens. Cynthia Lummis and Kirsten Gillibrand want to explore the creation of a private sector group to help federal regulators do their job. An SRO would help the feds “oversee the burgeoning cryptocurrency industry,” a group of attorneys, including former CFTC Chairman J. Christopher Giancarlo, wrote in February. The idea of creating a government-sanctioned private regulatory association — similar to FINRA, which works with the SEC, and NFA — has been drawing more attention in the debate over how to rein in a fast-growing industry. “Crypto is still the Wild West, and it’s still the Bitcoin industry," Marc Fagel, a Stanford Law lecturer at Stanford Law Source