After U.S. CFTC warns three digital finance platforms; experts debate future rules and crypto growth in the U.S.
Last week, the U.S. Commodities Futures and Trading Commission (CFTC) took action against three digital finance platforms, telling Opyn, 0x, and Deridex to stop activities that break rules. Some crypto supporters worry this makes it hard for new businesses to grow.
Marisa Coppel from the Blockchain Association said the CFTC's actions are confusing. Recently, a judge decided that software creators like Uniswap Labs were not responsible for bad uses of their programs by others. Coppel also mentions different opinions inside the CFTC about how to handle digital money.
The CFTC's decision is just one of many events this year affecting the rules for digital money.
Ashley Ebersole, from 0x, believes some rules are necessary. He stated that “The more people use digital finance, the more it will need rules.”
Will Warren, who Co founded 0x, talked about the challenge of making rules for digital money. He said, "It’s hard to fit digital money into old rules."
Chris Perkins, who advises the CFTC, believes it's important to teach decision-makers about digital money. He feels good rules will come soon. But he worries that if they take too long, talented business people might leave the U.S. for other countries.
Still, Warren is positive about the future of digital money in the U.S. He said, "Crypto is big everywhere, and the U.S. will be part of it."