Abstract
Over the past few years, a turf war has been brewing between the Commodity Futures Trading Commission (“CFTC”) and the Securities and Exchange Commission (“SEC”) over which agency should regulate cryptocurrencies. Both agencies have pursued numerous enforcement actions over the cryptocurrencies they believe to be within their jurisdiction. This turf war has many moving components, but the focus always comes back to one question: which cryptocurrencies are commodities, and which cryptocurrencies are securities? The distinction is important because the CFTC has statutory authority to regulate commodities, whereas the SEC has statutory authority to regulate securities. This Comment rejects the pursuit of defining cryptocurrency and instead proposes a regulatory framework where the two agencies regulate jointly and where the firms can self-designate and register with either the CFTC or SEC.
Document Type
Article
Publication Date
2023
Recommended Citation
Taylor Anne Moffett, CFTC & SEC: The Wild West of Cryptocurrency Regulation, 57 U. Rich. L. Rev. 713 (2023).
Included in
Commercial Law Commons, Internet Law Commons, Judges Commons, Science and Technology Law Commons, Secured Transactions Commons, State and Local Government Law Commons, Supreme Court of the United States Commons