U.S. CFTC Commissioner: CFTC is "the ideal regulator for the cryptocurrency spot market" and the crypto industry should engage with the new government as soon as possible

Odaily Planet Daily Report: Recently, at the North American Blockchain Summit, Summer Mersinger, a commissioner of the U.S. Commodity Futures Trading Commission (CFTC), discussed the necessity of formulating standard crypto-related policies through notice and comment rulemaking (rather than through enforcement). Mersinger explained how a recent lawsuit against a DAO has led the CFTC to require a court ruling to classify the entity. In this case, the CFTC aims to categorize the DAO as a corporation or association. She believes that while crypto entities, including DeFi, are typically placed into existing categories and expected to operate under the same laws, they often lack formal registration terms; as a result, Uniswap tried to do the right thing but ultimately faced more accusations. However, Uniswap reached an "exceptionally small" settlement with the CFTC. Although smaller in scale compared to other agencies like the SEC, Mersinger believes the CFTC is the "ideal regulator for the crypto commodity spot market" as it can quickly implement significant legislative changes without disrupting the market. Furthermore, while she mainly holds a conservative stance, she supports the introduction of new laws and regulations for crypto companies. Mersinger also suggested that the crypto industry should engage with the new government leadership as soon as it is determined, as the Trump transition team is reportedly considering the crypto-friendly Summer Mersinger for the CFTC chairmanship. (Cointelegraph)