“It is untenable to allow an unregulated, unlicensed derivatives market to compete, side-by-side, with a fully regulated and licensed derivatives market,” Dan Berkovitz, the commissioner of the Commodity Futures Trading Commission, said in a June speech. “In addition to the absence of market safeguards and customer protections in the unregulated market, it is unfair to impose the obligations, restrictions and costs of regulation upon some market participants while permitting their unregulated competitors to operate wholly free of such obligations, restrictions and costs.”
This argument is garbage. The FTC doesn't do shit for enforcement in the stock market today. Somehow they'll do better with crypto markets? LOL
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