Category: CFTC
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Regulators Explain Why Bitcoin Futures Are Easier to Approve Than Bitcoin ETFs
Commissioners of the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have come together to discuss their regulatory approaches to bitcoin futures contracts and bitcoin exchange-traded funds (ETFs). The two regulators are also open to collaborating on their oversight of crypto investment products. Also read: Indian Supreme Court Moves Crypto Hearing,…
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How US Government Shutdown Affects Bitcoin ETF Approval
The U.S. Securities and Exchange Commission (SEC) is due to make a decision on the Vaneck Solidx bitcoin ETF next month, and the deadline cannot be extended further. However, since the U.S. government is currently shut down, a securities lawyer explains what is likely to happen to the ETF, including the likelihood of an automatic…
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Are Regulators Dividing in Order to Conquer?
As regulators are now seemingly dividing the markets geographically, are they perhaps even disturbing a possible level playing field of the markets? It, therefore, warrants a closer look at regulators, and—perhaps more importantly—ascertain what sets them apart. The past few months we have seen regulators taking positions when it came to cryptocurrencies, ICOs, and the…
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Bakkt Acquires Established Futures Brokerage to Strengthen Bitcoin Offering
Coming Bitcoin futures exchange Bakkt announced Monday the acquisition of an independent futures commission merchant for an undisclosed amount. The move aims to augment Bakkt’s services for institutional investments in cryptocurrency assets. On the back of a $182 million capital raise, Bakkt’s relentless work in developing a trusted brokerage for cryptocurrencies is unfolding. The firm…
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Analysis: Understanding the SEC’s Stance on Crypto
Last year the U.S. Securities Exchange Commission took enforcement action against initial coin offerings and other crypto companies perpetrating fraud. Many believe 2019 will be the year when regulators clamp down on rogue cryptocurrency operators. Here we decode the overlapping and occasionally contradictory stance taken by U.S. regulators, and consider what the market can expect.…
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US Law Professor: Confusing Cryptocurrency Regulations Will Hamper Innovation
Carol Goforth is a professor at the University of Arkansas School of Law. She recently published a paper about the consequences of having cryptocurrency regulations fall under a number of conflicting laws, defined by various U.S. authorities, all at the same time. Also Read: IRS to Face Record Number of Crypto-Related Loss Claims Confusing, Prohibitive…
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Nasdaq Reportedly Looking into Bitcoin Futures Despite Plunging Prices
The world’s second largest stock exchange, Nasdaq, is reportedly planning to introduce a Bitcoin futures market within the first quarter of 2019. The Bitcoin market has plunged by more than 80 percent across the spot markets, data from CryptoSlate has shown, but it hasn’t deterred the world second largest stock exchange from eyeing the lucrative…
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Regulations Roundup: Chinese Mining Farms Undergo Tax Inspection, Michigan Bans Campaign Donations in Cryptocurrency
In recent regulatory news, we report on an authorized mining company in China that has had its operations temporarily halted for tax inspection and implementation of real-name registration processes. We also look at the Michigan Secretary of State’s ban on crypto-based political donations, as well as the recent certification of X8’s stablecoin for Shariah compliance. In addition,…
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Regulations Roundup: CFTC to Embrace DLT, SIM Swapping Task Force
In recent regulatory news, the chairman of the United States Commodity Futures Trading Commission has predicted that distributed ledger technology will soon be adopted by the CFTC to monitor the financial markets, and a supervisor of the REACT Task Force has emphasized the priority placed on policing SIM swapping in Northern California. In addition, Germany’s…
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Blackrock Waiting Until Cryptos Become ‘Legitimate’ Before Offering ETFs
BlackRock CEO Larry Fink said Thursday that while he hasn’t entirely written off the possibility of his company trading crypto assets, he thinks the industry still needs time to mature. BlackRock, the world’s largest asset manager, is avoiding a bitcoin ETF until cryptocurrencies become “legitimate.” https://t.co/DFpaSHo0ag — CNBC (@CNBC) November 1, 2018 https://platform.twitter.com/widgets.js Dealbook-Breaker “I…