A consumer protection framework comprises laws, regulations, and policies designed to safeguard individuals interacting with financial products and services. This framework seeks to ensure fair practices, transparency, and avenues for recourse against fraudulent or predatory activities. It establishes essential standards for market conduct and information disclosure.
Context
In the rapidly evolving digital asset sector, establishing a robust consumer protection framework is a primary concern for regulators globally. The current absence of consistent regulations often exposes users to risks associated with volatile assets, opaque platforms, and scams. Future legislative efforts aim to extend traditional consumer safeguards to digital asset markets, fostering trust and stability within this new financial landscape.
The Act mandates a critical architectural shift, establishing CFTC as the primary spot market regulator, fundamentally altering existing compliance frameworks.
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