Summer Mersinger, a United States Commodity Futures Trading Commission commissioner (CFTC), stated that she believes it is time to regulate cryptocurrencies.
Mersinger was presenting at Texas Blockchain Summit in November 18th. Mersinger discussed the possible requirements for successful US crypto legislation.
Mersinger recognized that the process was moving in a positive direction. “We are moving towards the stage where we may have reached the end of the education stage. Now it is time to take action,” she said. “We may be at the stage where we are beyond the education stage and it is now time to take action,” she said. Mersinger said that the CTFC and Securities and Exchange Commission would eventually resolve their differences regarding jurisdiction. Mersinger stated that both are welcome; the problem is how to make it work.
The future regulation of digital assets might include real-time evidence of reserves. While we are not able to request this every day, it is something that we can do. Related: A new US regulator bristles about how aggressively they police crypto. While all this is going on Mersinger stated that “unless there is a decision at the Federal level, the States are the first line to defend themselves.” “Sometimes, Washington forgets that the state were the first players and regulators in the crypto arena. They continue to play an integral role in the future.
It is terrible. We forget the states a lot while we are having a conversation.
Republican Mersinger was elected by President Joe Biden to be a candidate for the CTFC seat in December.
She denounced the approach taken by the commission to Ooki DAO regulation enforcement and expressed her disapproval.