Lucas Looks Forward to Bringing Regulatory Clarity to Digital Asset Arena

Mar 09, 2023
Economy
Press

Washington, DC – Today, Congressman Frank Lucas (OK-03) joined his colleagues on the House Financial Services’ Digital Assets, Financial Technology, and Inclusion Subcommittee for a hearing on “Coincidence or Coordinated? The Administration’s Attack on the Digital Asset Ecosystem.” 

Lucas questioned witnesses on the SEC’s regulation by enforcement approach to digital assets and on legislative proposals that grant the CFTC spot market authority for crypto. 

Click here to watch Lucas’ Q&A.

Lucas on the CFTC’s spot-market authority

“Since the CFTC was first established through the Commodity Futures Trading Commission Act of 1974, the Agency has been a principles-based regulator. This flexible, principles-based approach is foundational to the CFTC’s regulatory framework, which enables it to be an innovative and proactive regulator.

“With that said, the jurisdiction for spot-market authority deserves a robust conversation around what is best for investors, consumers, and even the agencies.”

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