Crypto Market Braces for Increased Regulation This September

Jake Chervinsky, Chief Legal Officer at VariantFund, has suggested that we might see heightened regulatory actions in the cryptocurrency sector as September ends.

U.S. regulators, including the SEC and CFTC, are expected to ramp up their enforcement efforts as their fiscal year closes on September 30. This increase in activity is often aimed at strengthening performance reports and preparing for budget discussions.

Chervinsky indicated that this period typically sees a surge in enforcement actions, although some in the crypto community believe the SEC might focus more on settlements rather than pursuing lengthy court battles.

Recently, the CFTC fined Uniswap $175,000 for illegal trading practices related to digital asset derivatives.

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Amid these developments, there is growing pressure from crypto advocates for clearer regulatory guidelines to boost innovation and investment.

The upcoming elections could influence this, with candidates like Donald Trump showing support for Bitcoin, while Kamala Harris’s campaign has received crypto contributions but has not clearly articulated her stance on the issue.

Alexander Stefanov