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Thomas A. Sporkin quoted in MarketWatch article, “Cryptocurrency hearing will have SEC, CFTC chiefs trying to juggle allowing innovation with protection against fraud”

MarketWatch

Thomas A. Sporkin

Thomas A. Sporkin was quoted on February 6, 2018 in a MarketWatch article, “Cryptocurrency hearing will have SEC, CFTC chiefs trying to juggle allowing innovation with protection against fraud,” which discussed the views of Securities and Exchange Commission chairman Jay Clayton and the Commodity Futures Trading Commission chairman J. Christopher Giancarlo on virtual currency regulation, and their meeting with the Senate’s banking committee to explore the SEC and CFTC oversight role for virtual currencies. The article stated that Clayton and Giancarlo “teamed up in an op-ed in The Wall Street Journal, to stake out their claims on regulation of blockchain-related initiatives including cryptocurrencies and so-called initial coin offerings or ICOs. Their challenge, as they see it, is to make sure market ‘innovation continues’ while maintaining transparency, investor protection and market integrity.”

Sporkin stated, “As cryptocurrencies evolve it’s imperative that the financial regulators don’t get mired in turf wars. Efforts to create legitimate tokens, for example, shouldn’t be stymied by unpredictable agency rules and decision making.”

Click here to read the full article.