Treasury will warn White House that crypto needs major regulations

Washington Post – In a story about a Treasury report citing crypto poses systemic risks, Healthy Markets President and CEO Tyler Gellasch is quoted saying he is skeptical the report will propose a tough approach. Mr. Gellasch said that “Many crypto industry practices are simply illegal in the securities markets, so avoiding the SEC’s rules is essential to the crypto industry’s bottom lines,” he said. “If the report recommends giving the CFTC new authority over spot trading in digital assets, as many expect, we don’t expect see public celebrations, but there would still be a huge sighs of relief from K Street to Silicon Valley to China.” (Full Story).

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