The US Commodity Futures Trading Commission (CFTC) seems to focus on cryptocurrencies such as Avalanche (AVAX), Uniswap (UNI), Chainlink (LINK) operating in the decentralized finance (DeFi) field. The CFTC’s technology committee focused on the cryptocurrency industry in terms of discussion topics. Here are the details…
CFTC will examine coins such as AVAX, UNI, LINK at the opening meeting
Decentralized finance (DeFi) will be the first topic discussed at the Commodity Futures Trading Commission’s Technology Advisory Committee’s inaugural March 22 meeting, further solidifying the cryptocurrency sector as a priority for the US derivatives regulator. Christy Goldsmith Romero, Commissioner of the CFTC, used the following statements:
A discussion of DeFi, including cybersecurity vulnerabilities, ‘decentralization’ indicators, digital identity and non-custodial wallets, will add to the ongoing policy debate in Washington, DC and beyond.
The CFTC is showing increased interest in the crypto sector, especially as the agency seeks new mandates to oversee the non-securities crypto spot market. As we reported as Kriptokoin.com, the Global Markets Advisory Committee, headed by Commissioner Caroline Pham, another of the CFTC’s advisory committees, met on February 13 to discuss issues related to crypto assets at its first meeting. He argued that crypto is “truly borderless” and that policymakers “need to understand what is going on at the international level.”
What are among the DeFi coins?
So what does it mean for CFTC members to point to decentralized space? There are several cryptocurrencies that have been operating in the decentralized finance (DeFi) space for a long time. When we look at the largest DeFi coins by market cap, Avalanche (AVAX) comes first. Then Dai (DAI), Uniswap (UNI), Chainlink (LINK), Lido DAO (LDO), Internet Computer (ICP) draw attention. You can see the 20 biggest DeFi coins by market cap in the image below:
DeFi coins; It is built on unique, native blockchain networks and is often named for those networks. As seen above, Maker, Compound, Uniswap, Aave, Chainlink and Ankr are among the most popular DeFi coins. DeFi tokens also transfer value like other coins.
DeFi platforms provide users with ways to borrow, save, lend or trade crypto without any of the traditional bureaucracy found in financial markets. This level of popularity makes the best DeFi coins a solid option to invest in in the eyes of many. But now regulators’ scrutiny of DeFi could negatively impact the field. Still, the general situation will be determined by the speeches on March 22.
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