January 30, 2019
Publication: Forbes
Kobre & Kim attorney Jake Chervinsky spoke with Forbes on the current state of regulation from the U.S. Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) in regards to crypto exchanges. The reason for delays in regulatory enforcement, Chervinsky said, is because there is no clear authority over trading within the crypto industry.
“While both of them [CFTC and SEC] have anti-fraud and anti-manipulation authority,” Chervinsky added, “neither has regulatory authority in the same way that they would over national securities exchanges in the case of the SEC or futures exchanges or other derivatives exchange for the CFTC.”