According to the Daily Planet, Caroline Pham, Commissioner of the US CFTC, said at the Korea Blockchain Week that the Digital Assets Subcommittee plans to develop virtual asset (digital asset) regulatory standards within the next two years and will issue relevant recommendations on the 5th of next month. Pham said that the goal of the subcommittee is to define digital assets. He emphasized that the key is to distinguish whether digital assets are financial assets or non-financial assets, because digital assets can be non-financial assets, so the same regulation as financial assets is not a panacea.
Pham also pointed out that it is necessary to regulate DeFi, and in the case of code-based DEX, regulation can be discussed by focusing on algorithms. It is reported that the Digital Asset Subcommittee was established in February this year, chaired by Palm, to formulate regulatory recommendations for digital assets.