Jeffrey Alberts, co-head of Pryor Cashman’s FinTech Group, spoke with Investing.com about the complex and murky regulatory framework surrounding cryptocurrency companies.

While U.S. regulators are actively policing global financial markets that may impact U.S. investors — and will take coordinated action to shut down trading opportunities that do not meet U.S. regulatory requirements — Alberts explains that there is still jurisdictional opposition among various legislative bodies, particularly between regulators on the federal and state levels.

“It is worth mentioning regarding state versus federal regulation, there is a battle going on between state regulators and the OCC over who is going to get to regulate FinTech companies. The state regulators don’t want the OCC to become the regulator of all these FinTech companies,” he said.

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More on Alberts’ Practice

A former U.S. Attorney, Jeffrey Alberts is a recognized leader on cryptocurrency and blockchain legal issues. In 2018, the National Law Journal named him to its inaugural list of Cryptocurrency, Blockchain and FinTech Trailblazers. Additionally, Jeffrey is a participating attorney in the Digital Currency & Ledger Defense Coalition, an organization which protects individual constitutional rights and civil liberties in connection with regulatory and law enforcement scrutiny relating to digital currencies and ledgers.

Learn more about his work here.