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US Officials Say No to Regulations On Cryptocurrencies

During the 2018 Consensus Conference being held in NY City, US regulators said there will be no suppression of the cryptocurrency market, however, a closer watch on any possible illegal activity was a certainty.

On Tuesday May 15th, 2018 government representatives from the Securities and Exchange Commission (SEC), the Attorney General’s office, as well as the US Commodity Futures Trading Commission (CFTC) participated in a panel discussion in regards to the monitoring and regulation of the cryptocurrency market. The panel was moderated by Attorney Lawrence Stefan Bunnell. Kiran Raj, chief strategy officer of the Bittrex cryptocurrency exchange was present as well.

US government officials speaking said that there wasn't any reason why the market would necessarily be heavily regulated, and they had no intentions on seeing new innovations, such as blockchain or tangle technology, being suppressed. Logically, they did say swift action would be handed down when fraud or criminal activity occurs.

Some of the government officials present were James McDonald, who serves as the Executive Director of the CFTC and Robert Cohen, Deputy Director of the SEC’s law enforcement network. The Associate Deputy Attorney General, Sugett- Sujit Raman was present as well and he discussed the US government role in law enforcement in regards to the crypto market.

Consensus 2018, the 4th annual blockchain technology summit, is being held at the New York Hilton Midtown from May 14-16. It is sponsored by CoinDesk and will be featuring more than 250 speakers and over 4000 attendees from high profile startups around the globe. Many major corporations will be present such as ABN, AMRO, Citi,CME Ventures IBM, Microsoft and major developers of blockchain and cryptocurrency technologies. Experts say this conference is crucial to the future of cryptocurrency and will have a long lasting impact.

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Jack Taylor is a freelance journalist who has contributed to many award winning media outlets on a wide range of topics regarding trending technologies, cryptocurrency, blockchain & digital privacy.
Tennessee