The US Commodity Futures Trading Commission (CFTC) is focusing on increasing investor education and outreach as the market for digital assets grows and faces downturns, stated Commissioner Kristin Johnson during a recent roundtable discussion.
In an event organized by CFTC’s Office of Minority and Women Inclusion (OMWI), Johnson also stated that the commission must increase investor education and outreach to empower customers. This will also help in combating illicit activity and safeguard the integrity and stability of financial markets, she added.
The roundtable was the latest opportunity for policymakers to discuss cryptocurrencies from a viewpoint of financial inclusion. The discussion also concentrated on topics such as investor protections for underserved groups and creating legislation to better serve those communities.
Attendees also highlighted the regulation, policy, and innovation in the digital asset space. The roundtable also addressed the bipartisan Digital Commodities Consumer Protection Act of 2022 (DCCPA).
If this act gets passed, the legislation would mandate a CFTC study on how digital assets impact diverse communities.
The CFTC commissioner also highlighted a June 1 report by the Federal Reserve Bank of Kansas City that “indicates that historically underserved groups have higher levels of participation in the crypto-investment community than the investment communities for traditional financial products.”
CFTC has maintained high standards of enforcement and educational outreach to protect retail participants in the crypto space. Earlier this month, CFTC asked Predictlt to shut down its market due to a rule violation.
