The Commodity Futures Trading Federation (CFTC) committee Caroline Pham recently called on regulators to provide clearer professional guidance on encrypted property in 2023.

In an interview with Bloomberg News, Fan Meizhong mentioned that discussions with international participants on laws and regulations on login passwords are under way. The senior government official said that at this stage, many foreign personnel have discussed login passwords to regulate national standards around the world.

According to Fan Meizhong, she has held about 75 meetings with various parties to discuss topics related to login password control. The CFTC committee pays attention to the fact that our country outside the United States is having "very deep discussions" on what kind of norms can be applied internationally.

When asked about recent shortcomings in this area, such as the legal risks of Gemini and Genesis, Pham stressed that regulators must consider how to "use existing authorities to provide the responses they need today".

The operations commissioner stressed that this means defining an encrypted financial derivative and bringing it in line with the same specifications as other financial derivatives. Pham also stressed the need to explore a framework for test cases for non-bank encryption activities and blockchain applications.

Fan Meizhong mentioned that she hopes US regulators will provide a lot of specific guidance in 2023. She said:

"I would like to see a lot of specific guidance from CFTC and other regulators this year, and I very much look forward to it. Maybe we will see more optimism in the US."

In the end, Fan Meizhong said, the most important thing is to think about what else can be done, rather than just "standing still."

At other news levels, Bank of England Governor McGinnis Henry recently questioned the importance of data elements. The official said that the central bank's digital currency may not be necessary because they have a settlement platform in the United States.