On August 5th, the question raised by why the US has not yet become a leader in encryption regulation, Heath P. Tarbert, chairman of the US Commodity Futures Trading Commission (CFTC), said that the US market is global in terms of breadth, depth and integrity. standard. This is the result of an innovative, well-calibrated regulation and a carefully balanced business environment. Although the regulatory landscape in the United States is by no means perfect, any system is always weighed. US regulators have been careful to avoid stifling innovation in the development of this new space. As we move forward, applying solid, principle-based regulations to understand the transformative potential of new technologies, such as crypto assets and other 21st century commodities, will be key to ensuring that the US free enterprise system remains the envy of the world.