Better Markets says CFTC is ‘wrong agency’ to regulate retail crypto

What happened: Better Markets said the CFTC is the wrong agency to regulate retail crypto, arguing its proposed framework for margined, leveraged or financed retail crypto transactions would leave investors less protected than SEC oversight. Key numbers: The CFTC sought public comment on the framework on Monday. Why it matters: Better Markets said the CFTC lacks an investor protection mandate and questioned its claim of congressional intent. Nate Geraci of NovaDius pushed back, saying the industry wants clear rules.

Better Markets said the CFTC is the wrong agency to regulate retail crypto, arguing its proposed framework for margined, leveraged or financed retail crypto transactions would leave investors less protected than SEC oversight.

Better Markets said the CFTC lacks an investor protection mandate and questioned its claim of congressional intent. Nate Geraci of NovaDius pushed back, saying the industry wants clear rules.