US CFTC Commissioner Discusses Cryptocurrency Regulation Authority

According to Odaily, US Commodity Futures Trading Commission (CFTC) Commissioner Summer Mersinger has spoken about the ongoing debate over which agency, the Securities and Exchange Commission (SEC) or the CFTC, has the appropriate authority in cryptocurrency regulation. Mersinger stated that she will be speaking alongside SEC Commissioner Hester Peirce at an upcoming consensus conference. While both commissioners share some similar views, Mersinger acknowledged that the situation is a struggle due to occasional disputes over jurisdiction, whether in enforcement cases or other actions under the CFTC's authority to combat fraud and manipulation. The primary cause of this tension, according to Mersinger, is a lack of clarity. The debate over which regulatory body has the right to oversee the rapidly evolving cryptocurrency sector continues to be a contentious issue in the United States.