CFTC Hearing Explores Role of Regulators in Blockchain Future
The US Commodity Futures Trading Commission's (CFTC) Technology Advisory Committee discussed how blockchain applications could reshape the derivatives market at a meeting today in with special attention was paid to the need for industry standards and collaboration. The hearing, originally announced in January but later postponed, featured testimony from representatives from both traditional finance firms as well as startups in the blockchain space. Notably, the CFTC commissioners present indicated a willingness to avoid cumbersome regulatory demands on the still-nascent technology, with....
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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....
The Commodity Futures Trading Commission (CFTC) was one of the more vocal US government entities on the subject of bitcoin in 2014, holding a hearing to discuss its role in options and futures, claiming regulatory oversight over the derivatives market and speculating on how it might intervene in the digital currency ecosystem. Perhaps most notably, however, CFTC CommissionerMark Wetjen penned an opinion piece heralding the technology's potential to transform the industries his agency oversees. But while the CFTC and Wetjen in particular have been open with their views on bitcoin, the....
The US Commodity Futures Trading Commission (CFTC) will discuss the application of blockchain technology in derivatives markets during a meeting of its Technology Advisory Committee later this month. According to a notice published today, the hearing will take place on 26th January at the agency’s Washington, DC headquarters. The meeting is open to the public. The notice states: "The TAC will discuss: (1) the Commission's proposed Regulation Automated Trading ("Reg AT"); (2) swap data standardization and harmonization; and (3) blockchain and the potential application of distributed ledger....
Commissioner J Christopher Giancarlo of the Commodity Futures Trading Commission (CFTC) said today that he believes the government agency should reexamine existing rules as necessary to foster innovation with blockchain technologies. Giancarlo’s remarks on the possibility of revisiting CFTC regulations in light of new blockchain applications came as part of a keynote address at the DTCC Blockchain Symposium today, in which he discussed his view on the implications of blockchain and distributed ledgers for regulators. Evoking comparisons to the Internet, Giancarlo went so far as to suggest....
The US Commodity Futures Trading Commission (CFTC) held a meeting yesterday in Washington, DC, to discuss bitcoin as it relates to the agency's role as the country's chief futures and options regulator. Panelists for the CFTC event included Coin Center executive director Jerry Brito. New York Law School professor Houman Shadab. BitPay chief compliance officer Tim Byun; and TeraExchange president and co-founder Leonard Nuara. While only covering basic elements about the subject and sidestepping larger questions about bitcoin's classification as a currency or commodity, the roughly two-hour....