CFTC Chairman: Due to the “competition of power” by the federal and state governments, the US encryption regulatory landscape is fragmented.

On November 13th, Heath Tarbert, chairman of the US Commodity Futures Trading Commission (CFTC), shared his views on the current state of the US cryptocurrency/blockchain industry at the meeting. Tarbert believes that the United States should play a more active role in the field and should even take the lead if possible. Tarbert also said that the regulatory landscape in the United States is fragmented and uncertain. The problem is that federal and state government agencies are “competing for regulatory power” in the market, and the regulatory environment needs to become more welcoming to emerging technologies and innovations. Tarbert also revealed that the CFTC wanted to create a stable regulatory environment because its employees chose “forward-looking” as one of the organization's core values. To achieve these new goals, CFTC is communicating with the SEC almost every day. In addition, the agency is working with institutions such as the Financial Stability Board and the Stability Oversight Committee to address issues related to the digital asset arena at the international level.