The U.S. Commodity Futures Trading Commission will develop comprehensive cryptocurrency regulations by 2024

BlockBeats - On July 9, the US Commodity Futures Trading Commission (CFTC) released its "Final Strategic Plan for 2020-2024". The plan says the CFTC will develop an overall framework to promote responsible innovation in digital assets.

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The CFTC has now licensed designated contract markets (DCM) for trading platforms "specializing in derivatives related to digital assets," such as LedgerX and ErisX(two exchanges approved by the CFTC last year to offer bitcoin futures).

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The CFTC acknowledges that market regulation needs to keep up with, and even guide, responsible innovation and avoid outdated rules and methods of business conduct.

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"Since last year, regulators have been working closely with the SECURITIES and Exchange Commission (SEC) to identify cryptocurrencies as belonging to securities or commodities," CFTC Chairman Heath Tarbert said earlier this year.

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In an interview on July 8, Heath Tarbert said that once it is clear whether a digital asset is a security, more digital assets will come online.

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