CFTC Commissioner calls for acceleration of cryptocurrency policy reform

On November 22, Commissioner Summer Mersinger of the U.S. Commodity Futures Trading Commission (CFTC) gave a speech at the North American Blockchain Summit, calling for the establishment of cryptocurrency standard policies through formal notification and review procedures. Mersinger stated that there are problems with the current "law enforcement-style regulation" strategy adopted by regulatory agencies towards the cryptocurrency industry, specifically mentioning the case of Uniswap Labs. She emphasized that CFTC is an "ideal regulator for cryptocurrency spot markets", as it can quickly implement major legislative changes without disrupting markets. Mersinger pointed out that although cryptocurrency entities (including decentralized finance DeFi) are often classified into existing categories and need to comply with same laws, there is currently no formal registration pathway. She suggested that the cryptocurrency industry should start reaching out immediately after determining new government leadership to promote early dialogue. Notably, CFTC's recent settlement amount with Uniswap was relatively small, reflecting subtle changes in regulatory attitudes.