CFTC Adviser Chris Perkins Says U.S. Risks Falling Behind in Crypto
Perkins, who is also president of VC CoinFund, published a set of 10 regulatory principles that form the basis of his advocacy role with the CFTC.
Crypto-focused VC CoinFund President Chris Perkins, also an adviser to the Commodities and Futures Trade Commission (CFTC), has published a regulatory white paper, and warned that the U.S. is at risk of falling behind in cryptocurrency.
The U.S. is trapped in the clutches of a reactionary wave of regulation following the collapse of the FTX exchange, while other jurisdictions are now opening to the opportunity and moving ahead, said Perkins, a member of the CFTC’s Global Markets Advisory Committee (GMAC). He noted the re-opening of Hong Kong to crypto and the arrival of MiCA, the European Union's just-passed crypto assets regulatory framework.
“Other countries are starting to recognize the opportunity and are springing into action,” said Perkins in an interview. “CoinFund just sent a team to Hong Kong," he continued. "It's buzzing right now. Government officials are actually going to conferences and encouraging adoption at this point in Hong Kong as they open back up. Meanwhile, MiCA has arrived and the U.K. is springing into action, acknowledging that the Europeans are moving on MiCA.”
The white paper offers policymakers 10 recommendations, including calling for the regulation of centralized intermediaries but not decentralized technology, prioritizing sandboxes and safe harbor programs aligned with SEC Commissioner Hester Peirce’s proposals.
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