Crypto requires investor safeguards and new trading framework
In an interview with CNBC, The former chairman of the Commodity Futures Trading Commission (CFTC), Timothy Massad, stated that a new set of rules and regulations is needed to protect investors.
Massad pointed out that there are no clear rules regarding custody, clearing, and settlement of cryptocurrencies, which makes it difficult for investors to know how their assets are being handled. He emphasized the need for more transparency and accountability in the crypto market, stating that the lack of market oversight creates a breeding ground for fraud and manipulation.
Massad's comments come at a time when the crypto industry is facing increased scrutiny from regulators around the world.
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