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Translated by: MOS Health Team – baoliaofen
The SEC and the CFTC decided to formally negotiate on June 25th, to abandon the fragmented digital currency rules and develop a common standard.
The Chairman of the SEC believes that a uniform regulatory framework rules for the digital currency market will help protect digital currency users and prevent losses from various financial vulnerabilities. The SEC Chairman has spoken with the CFTC to improve transparency and legal clarity in the digital currency space. The former head of the CFTC is working on a memorandum on digital currency jurisdiction to delineate the authority of the SEC and CFTC. Co-regulation of the industry is a key trend.
Miles Guo previously mentioned that the U.S. is setting a standard for taxing digital currencies. The purpose of the regulator is to legally pay taxes, which again validates Miles Guo’s revelations.
Edited and Proofread by: Linda Progress
Posted by: Beyond X
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