And so we had to make snap judgment calls, and we made them such that if things turned out well, they’d be good investments, and if they turned out badly, they’d be bad investments. But we sort of limited the amount that we could lose from it.
The crypto industry seems to want to be regulated by the CFTC, and some people want the SEC to be the principal regulator. Do you have a view on this?
So in the end, both are going to be regulators. And, you know, the CFTC is going to regulate commodity futures, so it’s going to regulate very likely futures on tokens that are not securities. The SEC is very likely going to end up regulating spot security token markets.
And there’s some territory in between there. When you look at spot commodity markets, when you look at what security token futures might look like, those may end up as joint regimes; they may end up in one place or the other. In principle, I'm fine with either regulator or any combination of them. I think that the non-security token aspect of this is a nice fit for the CFTC’s regime.
This article was provided by Bloomberg News.