BREAKDOWN: CFTC Acting Chair – ‘Nearly 60%’ of Cryptos Are Commodities

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CoinDesk

Business News, Daily News, News, Tech News

4.7 • 698 Ratings

🗓️ 27 October 2021

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

Another U.S. regulator has entered the arena, trying to be the top crypto cop on the beat. This episode is sponsored by NYDIG. On today’s episode, NLW does an extended brief, covering: The CFTC Chair arguing for more power to regulate crypto Comments from the FDIC chair saying that banks need to be allowed to participate in crypto markets The latest CBDC efforts from Europe and Nigeria Bakkt hooks up with Mastercard A bitcoin ETF news roundup Robinhood down badly in crypto revenue for Q3 - NYDIG, the institutional-grade platform for bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW. - “The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Exit” by Isaac Joel. Image credit: wenjin chen/DigitalVision Vectors/Getty Images, modified by CoinDesk. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:40.8	Start your free 30-day trial at audible.com slash Wondery UK.
0:45.6	That's audible.com slash Wondery UK.
0:53.9	Welcome back to The Breakdown with me, NLW.
0:59.0	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
1:06.0	The breakdown is sponsored by Nidig and produced and distributed by CoinDes.
1:12.2	What's going on, guys? It is Wednesday, October 27th, and today we are doing an extended
1:17.9	brief style episode, a catch-up on a bunch of topics, all with relatively equal weight.
1:23.5	So let's dive in. The first topic is actually a question.
1:29.0	Should the CFTC be crypto's main regulator?
1:33.3	That's the argument of Rosten Benham, the acting chair of the CFTC, who is currently in
1:38.3	confirmation hearings to serve a full term as chair.
1:41.7	In testimony before the Senate Agricultural Committee, he said that the CFTC is
1:45.9	ready to become the primary Fed regulator for digital assets if Congress empowers them to do so.
	...

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