Wu Blockchain (@WuBlockchain): U.S. CFTC Chair: The Era of "Regulation by Enforcement" in Crypto Has Ended
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U.S. CFTC Chair: The Era of "Regulation by Enforcement" in Crypto Has Ended On March 9, in an interview with Bankless, CFTC Chair Mike Selig said that with the passage of the GENIUS Act, the U.S. has ended "regulation by enforcement" for the crypto industry. He advocated for establishing a "permissionless innovation environment," using an innovation exemption mechanism to reduce pre-approvals for innovators. Selig emphasized the need to abandon "paternalistic regulation" and establish clear rules upfront, ensuring crypto innovation remains in the U.S. long-term and aiming to solidify the country's position as the crypto capital of the world.