CFTC Rules May Be More Blockchain-Friendly Under Trump
The current chairman of the US Commodity Futures Trading Commission (CFTC), Timothy Massad, will likely step down early next year. While he recognizes the potential benefits of blockchain technology, his replacement may be even more pro-blockchains. Massad Sees Blockchain’s Benefits. “The innovations that may be created through financial technology such....
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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....
Donald Trump hasn't even formally appointed CFTC commissioner Chris Giancarlo as chairman yet, and he's already appropriated the president-elect's slogan: "Making Market Reform Work for America." In comments given to about 300 swaps traders, analysts and more at the SEFCON event in New York City this week, Giancarlo for the first time referred to himself in public as "acting chairman" and laid out his "agenda" going forward for the regulation of blockchain and distributed ledger tech. Reading from a prepared speech, the current CFTC commissioner yesterday....
Cryptocurrency exchange Coinbase is disabling its margin trading product in order to comply with the new rules set by the Commodity Futures Trading Commission (CFTC). CFTC’s Rules Affecting Margin Trading Offerings Coinbase’s chief legal officer, Paul Grewal, explained in a blog post on Tuesday: In response to new guidance from the Commodity Futures Trading Commission, we are disabling our margin trading product. Starting on Wednesday, Nov. 25 at 2 p.m. PT, customers currently using Coinbase’s margin trading will not be able to place new margin trades and all open limit....
The US Commodity Futures Trading Commission (CFTC) has announced that it is investigating whether it has the authority to regulate bitcoin and other digital currencies, Reuters reports. "We are looking into that," Mark Wetjen, the CFTC's acting chairman, said at an industry conference. "It's been initiated, there's been an internal discussion at the staff level." The CFTC, which regulates the swaps and futures market, is studying whether bitcoin falls under the same rules as commodities markets, according to Wetjen. He said: "I think people [within the CFTC] believe there's a pretty good....
Quintenz's 5-year term at the agency was originally scheduled to end in April 2020, but he has twice extended his departure. Brian Quintenz, who has served as one of the commissioners with the Commodity Futures Trading Commission, or CFTC, reportedly plans to leave the agency on Aug. 31.According to a Thursday report from the Wall Street Journal, Quintenz is expected to announce his move into the private sector after leaving the CFTC later this month. He hinted that his future career could include a focus on “innovation, particularly related to cryptocurrency and DeFi” and planned to....