U.S. Commodity Futures Trading Commission (CFTC) Chairman Michael Selig said that the agency is "modernizing" its rules "so that there’s a place" for decentralized finance in the United States.
Speaking during a panel discussion with Securities and Exchange Commssion (SEC) Chairman Paul Atkins at the Milken Institute today, March 3, Selig said that the agency is working on regulations around on-chain markets to “accommodate on-chain software systems.”
Selig noted that DeFi protocols have faced years of regulatory uncertainty in the U.S. — as well as regulation by enforecement — and that the CFTC wants to provide clarity as to when and how DeFi protocols fall under its jurisdiction:
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