CFTC will remodel LabCFTC, education office to increase regulatory efficiency
CFTC chair Rostin Behnam spoke at a webinar about how the agency, even lacking broad authority, is trying to keep up with rapid developments in financial technology. The United States Commodity Futures Trading Commission (CFTC), the regulatory agency that shares the main crypto regulatory responsibility with the Securities Exchange Commission, will undergo restructuring to become more proactive and comprehensive, CFTC chair Rostin Behnam announced July 25. LabCFTC, which was described as “the focal point for the CFTC's efforts to promote responsible fintech innovation,” will become the....
Related News
The CFTC's fintech wing has published its fourth primer, this time on digital assets. LabCFTC, the fintech-focused office of the Commodity Futures Trading Commission, has published a new intro to digital assets. The "Digital Assets Primer" is dated Dec. 15 but was announced Dec. 17. It includes basic definitions and overviews of digital asset markets, as well as a handy breakdown of the role of the CFTC and other regulators in establishing rules for these markets. The latest primer joins three others released over the course of LabCFTC's lifespan. The earlier, from October 2017, focuses on....
Tarbert's brief term was nonetheless notable for clarity on cryptocurrency in U.S. regulation. Heath Tarbert is no longer the chairman of the Commodity Futures Trading Commission, but he will remain one of its five commissionerIn a CFTC announcement on Thursday afternoon, Tarbert followed through with his resignation, which he announced at the beginning of December. However, it was not clear at the time whether he would remain on the commission at all.Today's announcement confirmed that Tarbert would stay on as a commissioner, with a term that formally expires on April 13, 2024. In listing....
FinHub will have new independence and responsibilities, reporting directly to the SEC's chairman. Per a Dec. 3 announcement, the Securities and Exchange Commission's fintech team will become an independent office.Initially launched in 2018 under the guidance of Bill Hinman, the SEC's Strategic Hub for Innovation and Financial Technology, or FinHub, has been a leading force in securities regulation as it applies to new technologies since its inception.Given that the same timeframe has seen a major ramping up of the SEC's pursuit of initial coin offerings it deemed to have been unregistered....
The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have warned investors of the risks of investing in funds with exposure to bitcoin futures. The SEC published an investor alert on funds trading in bitcoin futures Thursday. The alert comes from the SEC’s Office of Investor Education and Advocacy (OIEA) and the CFTC’s Office of Customer Education and Outreach (OCEO). They pointed out that some funds may engage in the trading of bitcoin futures contracts as a way to gain exposure to bitcoin, emphasizing that the cryptocurrency....
A Congressional committee has called on the Commodity Futures Trading Commission (CFTC) to focus on digital currency regulation as President Barack Obama’s term in office winds to a close. The Agriculture Committee of the US House of Representatives sent a letter to CFTC chair Timothy Massad in the wake of the election of Republican Donald Trump, who defeated Democrat Hillary Clinton in the presidential vote earlier this month. The committee's letter expressed concern about so-called midnight rulemaking, or a situation in which an outgoing administration uses its remaining time in office....