Dan Berkovitz, one in all 3 commissioners presently serving on the U.S. Commodity Futures Trading Commission, stated at the same time as the company is ideal to futures contracts, swaps, and alternatives buying and selling, it’d want extra sources to deal with the coins marketplace for crypto assets.

Speaking on the Managed Funds Association Digital Assets Conference on Tuesday, Berkovitz stated the Commodity Futures Trading Commission, or CFTC, enforcement movements withinside the crypto area have been “aggressive,” bringing up a $a hundred million civil economic penalty towards derivatives trade BitMEX. Though he stated the company had the “functionality and the expertise” to similarly adjust crypto assets, it turned into presently not able to achieve this because of a “aid issue.”

“If congress had been to decide that our jurisdiction have to be extended to by some means adjust the coins marketplace, we’d actually need extra sources to do that,” stated Berkovitz. “Cryptocurrency markets, we’re now no longer always searching out greater authority with out greater sources. We’re staying in our lane.”

Berkovitz stated there has been “quite a few coordination” among the company, the Securities and Exchange Commission, Financial Crimes Enforcement Network, Federal Reserve, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Department of the Treasury. The CFTC labored with the Financial Crimes Enforcement Network to settle the case towards BitMEX, and has coordinated with the SEC to research buying and selling apps dealing in crypto.

“We’re all quite acquainted with the lanes that we pass in,” stated Berkovitz, relating to the jurisdictions of the respective agencies. “I assume coordination is absolutely excellent.”

The CFTC commissioner additionally doubled down on his remarks from June that decentralized finance systems had been probably unlawful beneathneath the Commodity Exchange Act. According to Berkovitz, there has been a “spectrum of centralization” round initiatives withinside the DeFi area that would cause them to challenge to registration on the CFTC.

Related: CFTC renewed: What Biden’s new company alternatives preserve for crypto regulation

Five commissioners commonly serve on the CFTC, however the company has been shaken up via way of means of the departure of former chair Heath Tarbert in January and Brian Quintenz on Aug. 31. Berkovitz has additionally introduced he plans to depart the fee on Oct. 15, leaving best performing chair Rostin Behnam and Dawn Stump.

Earlier this month, President Joe Biden stated he deliberate to appoint Behnam to count on his function on a everlasting foundation further to filling the ultimate seats with regulation professor Kristin Johnson and previous SEC enforcement department senior suggest Christy Goldsmith Romero. All need to be showed via way of means of the Democrat-managed Senate, however the White House has now no longer but introduced a likely substitute for Berkovitz.