Wall Street’s top regulators are increasing oversight of the cryptocurrency and prediction markets. In this context, US regulators have presented plans that include new measures to regulate the cryptocurrency industry and the rapidly growing prediction markets.
According to Bloomberg, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), which oversees derivatives trading, have submitted guidance on cryptocurrencies to the White House.
At this point, the SEC submitted commission-level guidance to the White House on how federal securities laws should apply to specific crypto assets. The CFTC also submitted regulatory measures for prediction markets for the White House’s review.
The report also states that the proposed guidance may include a token classification system aimed at clarifying regulatory jurisdiction between the SEC and the CFTC.
*This is not investment advice.
