In the Margins

SEC, CFTC chiefs caution on bitcoin, blockchain

January 25, 2018

By The Wall Street Journal

The chairmen of the Securities and Exchange Commission and the Commodity Futures Trading Commission, Jay Clayton and J. Christopher Giancarlo, respectively, have penned an op-ed cautioning on blockchain and cryptocurrencies. "Our task, as market regulators, is to set and enforce rules that foster innovation while promoting market integrity and confidence," they wrote in The Wall Street Journal. "In recent months we have seen a wide range of market participants, including retail investors, seeking to invest in [distributed ledger technology] initiatives, including through cryptocurrencies and so-called ICOs, initial coin offerings. Experience tells us that while some market participants may make fortunes, the risks to all investors are high. Caution is merited." Read the op-ed in The Wall Street Journal.



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