PANews reported on November 22 that according to Cointelegraph, at the North American Blockchain Summit on November 21, U.S. Commodity Futures Trading Commission (CFTC) Commissioner Summer Mersinger discussed the need to develop standard crypto-related policies through notice and comment rules (rather than regulation through law enforcement). Mersinger explained how a recent lawsuit against DAO required the CFTC to make an entity classification by court ruling. In this case, the CFTC hopes to classify the DAO as a company or association. Mersinger believes that although crypto entities, including DeFi, are often classified into existing categories and expected to operate under the same laws, they do not have formally registered terms; therefore, Uniswap tried to do the right thing, but ended up incurring more charges; however, Uniswap reached an unusually "small fine" settlement with the CFTC.
Despite its small size compared to other agencies such as the SEC, Mersinger believes that the CFTC is the "ideal regulator for the cryptocurrency spot market" because it is able to quickly implement major legislative changes without disrupting the market. In addition, despite her primarily conservative stance, she supports the introduction of new laws and regulations for crypto companies. Mersinger also suggested that the crypto industry should begin engaging with the new administration as soon as its leadership is determined.
Earlier news, Trump's transition team is considering pro-crypto Summer Mersinger as chairman of the Commodity Futures Trading Commission (CFTC) .
