Former US CFTC commissioner says crypto space has ‘dire need for regulatory clarity’

Many in the crypto space are becoming increasingly impatient as they try to navigate the muddy waters of crypto regulation without stepping on a law enforcement land mine.

Regulators, meanwhile, are trying to separate the bad actors in the crypto space — those actively committing fraud — from those who want to advance crypto and its market infrastructure, according to Dawn Stump, the former commissioner at the U.S. Commodity Futures Trading Commission.

“I think there’s a lot more work that needs to be done,” Stump told TechCrunch. “I think there’s a lot more work to be done on the regulatory-side front with regard to helping design regulations and coordinate regulation, internationally. In a way that makes sense.”

“This is going to sound very elementary, but I think more guidance is necessary [as well as] more thoughtfully set out expectations,” Stump said. “When I was at the CFTC, I always cringed a bit when it was suggested that the industry bears the burden to comply with the rules that are on the books today — and they certainly do — but in the same context it was sometimes suggested that it wasn’t the job of the regulator to hold their hand.”

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