That seems a good "to do" list. The priorities reflect a return by the SEC to its traditional missions (which is all to the good) plus FinTech.

While there is a growing consensus that there should be a federal system of regulation of cryptocurrencies and ICOs, it seems unlikely that the development of such a system can be accelerated by reliance on a system of "self-regulation." Such systems succeed because members interact extensively with each other and share a mutual interest in the development of the industry and the product as a whole.

These are not the characteristics of the crypto industry. To a good extent, one may…

If the CFTC has jurisdiction over any cash market transaction involving any "commodity" (bearing in mind that virtually everything is a commodity), then the CFTC's antifraud jurisdiction is virtually unlimited in scope. At a minimum, the CFTC has antifraud jurisdiction over energy products, agricultural products and metals.

A few questions follow: Did Congress really intend to provide the CFTC with such broad jurisdiction? Should the CFTC's jurisdiction be this broad? And how will, or…

In many respects, the tone of Vice Chair Quarles' remarks is similar to previous remarks by CFTC Chair Giancarlo. Each has committed to a careful review of what is working and what is not, and to make improvements that are possible, while minimizing the likelihood of divisive political fights that are not worth the effort. That should provide wide latitude, given how much low-hanging fruit there is in improving on the existing Dodd-Frank regulations.

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