Former SEC and CFTC officials call for reducing the burden of cryptocurrency regulation

Former CFTC Chairman Chris Giancarlo, former CFTC commissioners Brian Quintenz and Sharon Brown Hruska, and former SEC commissioner Steven Wallman stated in a joint letter supported by Kalli that regulation should be based on actual risk rather than maximum burden to avoid overlapping rules increasing compliance costs. Kalshi estimates that the trading volume of offshore perpetual contracts will exceed $9 trillion by 2025, up from around $2.8 trillion two years ago. Chris Giancarlo stated that if US regulators adjust based on actual risks, the relevant liquidity is expected to flow back to the United States.