U.S. CFTC joins SEC in proposing crypto regulations, though spot-market gap lingers
The derivatives regulator is proposing two rules meant to cover the waterfront of crypto activity and exchanges, as long as it’s not simple, direct trading.
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Summary
- The U.S. Commodity Futures Trading Commission is proposing a pair of related rules to govern trading of crypto that’s leveraged, margined or financed, establishing a new ype of exchange registration that would handle such transactions.
- The new crypto asset markets would be narrow form of the existing designated contract markets (DCMs) that are CFTC-regulated exchanges.
- The CFTC’s new rule proposals will be open for public-comment periods and are meant to answer some regulatory uncertainty left by the absence of a crypto market structure law from Congress.
