New CFTC Chairman Announces Modernization Initiative for Cryptocurrency Regulation

On the 20th, Michael Serlig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), announced the 'Future-Proof' initiative aimed at modernizing the agency's approach to digital assets. In a contribution to The Washington Post, he stated, 'The CFTC is charting a new course,' and revealed plans to begin a comprehensive review of regulations. Serlig noted that 'Rules designed decades ago for agricultural futures contracts might still suit those traditional markets, but they did not anticipate new products and exchanges.' He indicated a policy of adopting 'minimal effective regulation,' allowing U.S. companies to leverage new technologies...