In an interview with Bloomberg, Christy Goldsmith Romero, Commodity Futures Trading Commission (CFTC) Commissioner, discussed the crypto industry and its regulation.
She mentioned that CFTC needs to have more authority over crypto product listing in order to protect the market against manipulation.
On self-certification, she stated that at this point it's going to be difficult for some exchanges to self-certify that what they put on is not readily susceptible to manipulation.
She further added that if one is “investing millions of dollars and it writes down to nearly zero” this will raise questions about the due diligence.
Romero also expressed concern that FTX CEO’s revelations in court about no record keeping and control over the exchange's finances.
CFTC Commissioner on enforcement said that “we have to do enforcement to bring trust and confidence to people that we are doing our job”.
She said it is important to know how the market works and also to understand its weaknesses such as co-mingling customer assets and cyber security.