CFTC commissioner stresses ‘urgency’ in call for heightened crypto oversight

Crypto collapse

A commissioner at the Commodity Futures Trading Commission (CFTC) is lobbying the regulator to use its existing authority to conduct “heightened supervision” over derivative exchanges to create more oversight in crypto markets.

Christy Goldsmith Romero, in a speech delivered Wednesday to a conference hosted by the Futures Industry Association in Singapore, said she is urging the CFTC to “invoke heightened supervision of crypto exchanges.”

“At a minimum, heightened supervision would include frequent examinations and heightened focus on cybersecurity, conflicts of interest, and a safety and soundness financial review,” she said. Goldsmith Romero said she has made multiple requests within the CFTC regarding cryptocurrency oversight to no avail.

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