Former U.S. SEC General Counsel: SEC and CFTC have no regulatory differences in encryption supervision

Dan M. Berkovitz, the former U.S. SEC general counsel and former CFTC commissioner, said in an interview that further legislative revisions to securities or commodities laws related to the regulation of crypto asset markets are necessary. Existing commodities and securities laws are sufficient to regulate derivatives and securities markets. These laws are flexible enough to accommodate new technologies such as cryptocurrencies and blockchain-traded assets. Berkovitz does not believe there is a “divergence” between the CFTC and SEC in regulating digital assets. The former SEC general counsel claimed that Congress urgently needs to provide additional powers over non-secure digital assets in the spot market, and that the CFTC and SEC coordinate on cryptocurrency issues in the same way as they do on other issues where their jurisdictions overlap. The two bodies don't always have the same views on issues, and some differences are normal given their respective jurisdictions, but I don't think any such differences in cryptocurrency would rise to the level of a "rift." . (Cryptopotato)