Former CTFC Chair 'Christopher Giancarlo said, SEC crypto jurisdiction is wrong

[Sincerem]

Former Commodity Trading and Future commission (CTFC) Chair 'Christopher Giancarlo on Wednesday argued that United States security and exchange securities commission (SEC) is overriding where they aren't supposed.

He went further to say that, SEC isn't suppose to be in control of regulating digital coins like BTC, ETH, XRP and others in any way. That jurisdiction isn't in their hands of SEC to carry out, rather Commodity Trading, Future commission (CTFC) are the ones with legal experience to regulate and carry out jurisdiction around Cryptocurrency.

He continued, SEC is overriding boundaries and also in oversight of expanding their scope to control the entire Crypto industry. Which isn't legal, cos, jurisdiction is in the hands of CTFC and not theirs.

Same thing the current CEO said, which is 'Quintenz. Quintenz went to twitter to make his own announcement that SEC is over stating claims where they shouldn't be operating. Saying it is illegal operations which SEC is doing. Cos they aren't in the position of regulating digital currencies and imposing jurisdiction on any wrongdoings found around any crypto owner. Rather, it is the legal right of CTFC to regulate and imposing jurisdiction to any crypto that goes against the laws governing the entire Crypto industry.

Do you see SEC filing motion to refute this claims made by the two executives of CTFC as illegal statement?

 

[Bookwormlux]

The SEC Should be allowed to continue with their regulatory responsibilities and no attempts should be made to go against them as they're really trying.

 

[Sincerem]

The SEC Should be allowed to continue with their regulatory responsibilities and no attempts should be made to go against them as they're really trying.

Lol, but they aren't the ones who should carry out any wrongdoings found in any of the crypto coin owners. It is the duty of CFTC to do that. SEC is just jumping in where doesn't concern them.

 

[Nurudeen]

I think sec are really going against there boundary and even if any government agency will try to regulate the crypto currency exchange Business it shouldn't be sec because there major activities is with stock

 

[Sincerem]

I think sec are really going against there boundary and even if any government agency will try to regulate the crypto currency exchange Business it shouldn't be sec because there major activities is with stock

Ever since SEC came into jurisdiction of Cryptocurrencies, it has never been the same. Their have been complaint about their handling of issues.

 

[Josemendez]

The fact remains that SEC to an extent have a ground to stand on when tackling cryptocurrency. The only challenge is that they do it in a way that tarnishes the image of the cryptocurrency world in general.

 

[Alexandoy]

What is the difference if the crypto coin regulation is handled by SEC or by the CTFC? I don't see any difference at all because the regulation is still the regulation. It is just a matter of which would be the legal entity to handle the regulation.

 

[Sincerem]

The fact remains that SEC to an extent have a ground to stand on when tackling cryptocurrency. The only challenge is that they do it in a way that tarnishes the image of the cryptocurrency world in general.

That's exactly where CTFC presidents where throwing more light on, and not just to crack the matter opens up once more. Jurisdiction belongs to CTFC and not SEC.

 

[Dowenship]

Former Commodity Trading and Future commission (CTFC) Chair 'Christopher Giancarlo on Wednesday argued that United States security and exchange securities commission (SEC) is overriding where they aren't supposed.

He went further to say that, SEC isn't suppose to be in control of regulating digital coins like BTC, ETH, XRP and others in any way. That jurisdiction isn't in their hands of SEC to carry out, rather Commodity Trading, Future commission (CTFC) are the ones with legal experience to regulate and carry out jurisdiction around Cryptocurrency.

He continued, SEC is overriding boundaries and also in oversight of expanding their scope to control the entire Crypto industry. Which isn't legal, cos, jurisdiction is in the hands of CTFC and not theirs.

Same thing the current CEO said, which is 'Quintenz. Quintenz went to twitter to make his own announcement that SEC is over stating claims where they shouldn't be operating. Saying it is illegal operations which SEC is doing. Cos they aren't in the position of regulating digital currencies and imposing jurisdiction on any wrongdoings found around any crypto owner. Rather, it is the legal right of CTFC to regulate and imposing jurisdiction to any crypto that goes against the laws governing the entire Crypto industry.

Do you see SEC filing motion to refute this claims made by the two executives of CTFC as illegal statement?

Hmm.... I just pray this wont lead to the point whereby any thing crypto will be regarded as illegal at the long run... We all know that sec tackle any coin base industry that isn't on their side....

 

[Sincerem]

Hmm.... I just pray this wont lead to the point whereby any thing crypto will be regarded as illegal at the long run... We all know that sec tackle any coin base industry that isn't on their side....

That's just what Sec is all about, when you're not real-time agreement with them they'll hunt you and make sure they frustrate your progress as a digital coin owner when you take some sensitive actions without their consent.

 

[Bookwormlux]

Lol, but they aren't the ones who should carry out any wrongdoings found in any of the crypto coin owners. It is the duty of CFTC to do that. SEC is just jumping in where doesn't concern them.

There is a need to work within their jurisdictions and it sure does not make sense for them to do what is the responsibility of another regulatory body.

 

[Sincerem]

There is a need to work within their jurisdictions and it sure does not make sense for them to do what is the responsibility of another regulatory body.

That's just what the bosses of CFTC is saying. SEC have now encroached into their own duty to command jurisdiction which they deemed unacceptable.