Share this article
CFTC's Giancarlo: US and Foreign Regulators Teaming Up on Crypto
The CFTC's chairman said Wednesday that the U.S. is working with foreign regulators to tackle cryptocurrency fraud.
By Nikhilesh De
Updated Sep 13, 2021, 7:39 a.m. Published Mar 7, 2018, 10:35 p.m.
U.S. regulators are working with their counterparts overseas to combat cryptocurrency fraud, Commodity Futures Trading Commission (CFTC) chairman J. Christopher Giancarlo said Wednesday.
Speaking during a U.S. House of Representatives committee hearing on his agency's forthcoming budget, Giancarlo said he has spoken about the issue with the International Organization of Securities Commissions (IOSCO), as well as regulators in Europe, according to Forbes.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The collaboration has seen the CFTC working with domestic agencies like the Securities and Exchange Commission as well as officials in the Treasury Department, which earlier this year detailed the work being done by a group focused on enforcement issues.
Giancarlo's reported comments are notable, given the proactive approaches that have been taken by these agencies, with the CFTC itself scoring a win this week when a U.S. district judge ruled that cryptocurrencies are commodities on Tuesday – all but confirming the position it staked out back in 2015.
The hearing notably featured a critique by Representative Rosa DeLauro (D-CT) on the attention paid by the CFTC to cryptocurrency issues, which she argued weakens other, more developed markets. Giancarlo responded that would-be investors, particularly young ones, face risks that warrant attention.
Image via CFTC/YouTube
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
Top Stories
