Gemini Co-Founder Tyler Winklevoss Says ‘Clear Rules’ for…
By Karthik Subramanian
AI summary of the source article
Gemini co-founder Tyler Winklevoss stated that the U.S. is moving toward clear rules for digital assets, signaling a shift away from regulation by enforcement. Congress is evaluating crypto market-structure legislation designed to clarify jurisdictional boundaries between the Securities and Exchange Commission and the Commodity Futures Trading Commission. Current CFTC Chairman Michael Selig notably cited BTC, ETH, SOL, XLM, XTZ, and XRP as digital commodities. Clearer rules are expected to establish explicit registration, disclosure, capital, and custody standards, which could help crypto firms secure banking relationships and institutional capital while facing regulatory competition from jurisdictions like the EU, Singapore, Hong Kong, and the UAE.
Why it matters
Clear federal rules would replace enforcement actions with predictable compliance frameworks, helping digital asset firms secure banking ties and institutional capital.
Key facts
- Congress is considering legislation to grant the CFTC authority over spot digital-commodity markets while keeping SEC oversight for securities.
- CFTC Chairman Michael Selig cited BTC, ETH, SOL, XLM, XTZ, and XRP as examples of digital commodities.
- The SEC previously sued Gemini and Genesis Global Capital in January 2023 over the Gemini Earn lending program.