CFTC Chair Michael Selig said critics of the agency’s proposed crypto rules were “dangerously inviting the next Sam Bankman-Fried to run roughshod over the American people.” He argued that the proposal would protect exchange customers from fraud, manipulation, and theft of customer funds, and that critics who support the status quo were siding with fraudsters, manipulators, and looters. Selig’s post

CFTC Chair Michael Selig said critics of the agency’s proposed crypto rules were “dangerously inviting the next Sam Bankman-Fried to run roughshod over the American people.” He argued that the proposal would protect exchange customers from fraud, manipulation, and theft of customer funds, and that critics who support the status quo were siding with fraudsters, manipulators, and looters. Selig’s post

The proposal is an advance notice seeking public comment on a possible regulatory framework for crypto asset transactions and crypto asset markets. The CFTC said comments are due within 60 days of publication in the Federal Register. CFTC announcement

Selig’s statement · CFTC proposal