CFTC Issues Guidance on Digital Currencies for Futures Commission Merchants

The CFTC has issued new guidance for crypto derivatives markets that hold customer funds, much of which boils down to "be very, very careful." Per guidance released Wednesday evening, the Commodity Futures Trading Commission (CFTC) is advising businesses trading in crypto derivatives to hold customer funds very carefully.The new guidance continues the CFTC's interest in carving out rules for custodianship of virtual currencies — an area obviously distinct from any other asset class. Per the commission: "Custodians of virtual currencies are typically not subject to a system of comprehensive....

The US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) on Tuesday issued joint guidance that clarifies how federal securities laws apply to many crypto assets, a move aimed at ending years of regulatory uncertainty.  The agencies said the interpretation makes clear that the bulk of digital tokens are not securities, […]

Caroline Pham, the acting chair of the US Commodity Futures Trading Commission (CFTC), has announced the launch of a pilot program allowing Bitcoin (BTC), Ethereum (ETH), and USD Coin (USDC) to be utilized as collateral in US derivatives markets.  New CFTC Guidance For Crypto The pilot program was unveiled on Monday, accompanied by new guidance […]

Timothy Massad, chairman of the US Commodity Futures Trading Commission, a lesser-known agency whose responsibilities often overlap with the Securities and Exchange Commission, yesterday gave a very long testimonial update to the Senate Committee on Agriculture, Nutrition & Forestry which covered everything from "interaffiliate transactions" to virtual currency to local utility companies and their rights in energy swap markets. In regard to cryptocurrencies, the Chairman noted that since such currencies are traded as commodities and in the same fashion as other futures, the 1936 Commodity....

Timothy Massad, Chairman of the Commodity Futures Trading Commission, testified before the U. S. Senate Committee on Agriculture, Nutrition & Forestry yesterday, and much to everyones surprise addressed the topic of bitcoin derivative regulation - something that has (to date) been largely ignored by policymakers and cryptocurrency enthusiasts alike. Here are a few choice selections from the testimony (if you want to read the full testimony, you can do so here): We also continue to respond to market developments such as new products. Virtual currencies, such as bitcoin, are an example.....