Gate News bot news, Commodity Futures Trading Commission acting chair Caroline Pham stated that the Trump administration’s relatively easy stance on Crypto Assets does not mean that the commission will let the industry pass easily.
Pham stated in an interview on Thursday: “No one will take an easy path, and it’s not easy for regulators either. Just because we support innovation and growth doesn’t mean you can escape the legal consequences for violating the law.”
She added, “What I am saying here is not a distortion of the law, defining a certain asset class or technology as criminal, but rather to combat lying, deception, and theft.”
Pham stated that she is pleased that the CFTC has decisively “terminated the regulation against Crypto Assets through enforcement” and refocused attention on “catching the fraudsters and con artists in our market.”
She stated that the Biden administration has “indeed exceeded the provisions of laws and regulations” regarding crypto assets and added that its actions have also harmed traditional derivatives and foreign exchange markets.
Source: Cointelegraph
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