United States CFTC to Discuss Bitcoin Futures' Future
The Commodity Futures Trading Commission is set to meet this October to discuss its jurisdiction over bitcoin futures. Through its Global Markets Advisory Committee, the CFTC will have a meeting with two panels, all of which will be open to the public. The meeting will take place on October 9th, 2014 at the CFTC Headquarters in Washington DC. The upcoming meeting marks the first time that the regulator is publicly wading into the area of bitcoin regulation. There has been a growing demand for bitcoin futures from global merchants, miners and hedge funds for an efficient hedging tool. In....
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The US Commodities Futures Trading Commission (CFTC) recently held a meeting on Bitcoin. The public meeting was held by the CFTC's Global Markets Advisory Committee (GMAC) and was sponsored by CFTC Commissioner Mark P Wetjen. The meeting was first called in September to discuss whether or not the CFTC has jurisdiction over Bitcoin derivatives. The CFTC was joined by expert panelists including Coin Center's Jerry Brito, Law Professor Houman Shadab, TeraExchange's founder Leonard Nuara, and BitPay's Chief Compliance Officer Tim Byun. Together, the group discussed Bitcoin futures' future and....
In a news release published today, the United States Commodity Futures Trading Commission (CFTC) announced plans to hold a meeting at its headquarters in Washington, D. C. next month to discuss Non-Deliverable Forwards (NDFs) and bitcoin. Maybe you're asking yourself, what in the world is a NDF? I, too, had the question. Here's what came up, according to the NASDAQ glossary: Agreement regarding a position in a specified currency, a specified exchange rate, and a specified future settlement date, that does not result in delivery of currencies. Rather one party in the agreement makes a....
LedgerX is a new financial industry startup based out of New York, the home of the upcoming BitLicense. Despite the overcast pall of incoming regulations, LedgerX seems prepared for any happenstance. The new group has raised venture funding from Lightspeed Ventures and Google Ventures. Lightspeed Ventures has previously invested in other digital currency startups including Blockchain.info. Google Ventures, on the other hand, has put money into Buttercoin and OpenCoin, the company behind Ripple, which some might argue until they're blue in the face is the #2 cryptocurrency in existence.....
Jared Marx is an attorney at Washington, DC law firm Harris, Wiltshire & Grannis. He advises companies about bitcoin-related regulatory law and represents companies and individuals in civil and criminal proceedings. Here, he discusses a recent ruling by the United States Commodities Futures Trading Commission, which saw it label bitcoin as a commodity. Last Thursday the United States Commodities Futures Trading Commission (CFTC) settled charges against a small and now-defunct operation in San Francisco called Coinflip, which marketed bitcoin derivatives. In the process, the CFTC asserted....
The United States Government seems to be undecided about the status of bitcoin in the country. In what seems like a conflict between different departments, every department directly or indirectly related to banking and finance are calling it their own. This has caused enough confusion among bitcoin and digital currency companies operating in the country. Recently the United States Commodities Futures Trading Commission (CFTC) had filed a case against one of the San Francisco based Bitcoin trading platforms. Coinflip was taken to task for not having proper regulatory clearances from the....