TechFlow news, according to Cryptopotato, Dan M. Berkovitz, former general counsel of the U.S. SEC and former commissioner of the CFTC, said in an interview that further legislative revisions are needed regarding securities or commodity laws regulating crypto asset markets. He stated that existing commodity and securities laws are sufficient to regulate derivatives and securities markets, and these laws are flexible enough to adapt to new technologies such as cryptocurrencies and blockchain-based asset transactions.
Berkovitz does not believe there is a "divide" between the CFTC and the SEC in regulating digital assets. He explained: "Congress urgently needs to provide additional authority over non-security digital assets in the spot market. The way the CFTC and SEC coordinate on cryptocurrency issues is the same as how they coordinate on other areas where their jurisdictions overlap. The two agencies don't always have identical views on issues, and some differences are normal given their respective mandates. But I don't think any such differences in the context of cryptocurrency rise to the level of a split."
