FTX Debacle Shows Risks in Current CFTC Rulebook, Commissioner Says

Digital-asset exchange FTX’s implosion shows that US platforms should face heightened scrutiny from the Commodity Futures Trading Commission before being able to list crypto assets, according to one top official at the regulator.

CFTC Commissioner Christy Goldsmith Romero said Wednesday that risks associated with virtual currencies mean that a fast-track process exchanges typically use to list futures isn’t sufficient for the asset class. Current rules let exchanges registered with the regulator “self-certify” their products are safe and list them, unless the agency moves to block the plans within 24 hours.