On June 14, CFTC Commissioner Christy Goldsmith Romero discussed cryptocurrency regulation, rejecting suggestions that the agency would take a relaxed approach toward regulating cryptocurrency and affirming that the CFTC is positioned to protect consumers if given more authority. Romero said she welcomed efforts to close regulatory gaps through the recent Responsible Financial Innovation Act (RFIA) that was introduced in the Senate earlier this month and another similar bill that will be introduced by Senators Stabenow (D-MI) and Bozeman (R-AR) that would designate the CFTC as crypto’s top regulator. When asked about the possibility of regulation slowing the crypto market, Romero responded that “companies can’t scale up the way they need to without a lot of the financial institutions investments,” and that “regulation is needed.”
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