CFTC Commissioner Critiques KuCoin Lawsuit Amid SEC Clash

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CFTC's Pham criticizes the KuCoin lawsuit, highlighting potential SEC jurisdiction conflict and cryptocurrency regulation debate.

Caroline Pham, Commissioner of the Commodity Futures Trading Commission (CFTC), has publicly criticized her agency’s enforcement action against the cryptocurrency exchange KuCoin. KuCoin was charged with the unlawful operation of the digital asset derivatives exchange on March 26 by the CFTC and in cooperation with the U.S. Department of Justice. Pham’s criticism brings up the issue of a possible overreach by the CFTC into the domain of its sister institution, the Securities and Exchange Commission (SEC), provoking a discussion on regulatory boundaries in the crypto industry.

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