Big Change in Crypto Regulations in the US! CFTC is Dropping Tough Sanctions! - Coin Bulletin

Caroline Pham, Temporary Chairperson of the CFTC, announced that the commission has abandoned its sanction-focused regulatory strategy.

CFTC's new regulatory approach will focus on preventing fraud and market manipulation.

Under the previous president Rostin Behnam, the strategy implemented by the CFTC was divided into issues such as insider trading, cyber security, and environmental fraud. However, this old system was completely abolished and two main task forces were established. The new Complex Fraud Task Force will investigate fraud in all asset classes and handle the CFTC's largest legal cases. Another new unit, the Retail Fraud and General Sanctions Task Force, will focus on fraud and regulatory violations directly affecting retail investors.

Pham stated that with this new structure, the CFTC will operate more effectively and put an end to unnecessary penalties. He said, "This simpler but more effective structure will target fraudsters, not honest citizens."

CFTC's abandoning of the understanding of regulation with sanctions reflects the recent steps taken by the SEC. The Acting Chairman of the SEC, Mark Uyeda, recently announced that the agency will regulate crypto within clearer rules and that the era of Gary Gensler's sanction policies causing uncertainty has come to an end.