key takeaways
- Futures are considering futures exchanges to offer spot crypto asset trading including CFTC bitcoin.
- Public reaction to regulator implications and procedures is being sought to list spot crypto contracts on American exchanges.
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Commodity Futures Trading Commission (CFTC) Bitcoin and Crypto Asset Contracts (DCMS) are starting a new initiative to allow spot trading of contracts (DCMS), the acting chair Caroline Fam on Monday made Caroline Fams Annola.
This step is the first step in the recommendations implemented by the President’s work group on digital asset markets.
It is part of CFTC’s “Crypto Sprint”, aimed at expanding the monitoring of the enhancer regulator, crypto objects, and deepening cooperation with the first to support the innovation responsible.
“Under the strong leadership and vision of President Trump, CFTC is a complete pace to enable the immediate trade of digital assets at the federal level in coordination with the first crypto,” the PHAM statement said.
Currently, spot crypto trading and futures trading fall under separate regulatory framework. The second is overseeing the spot trading, which the CFTC has regulated the futures derivatives.
By enabling futures exchanges to list spot crypto contacts under the Commodity Exchange Act on DCMS, CFTC aims to unite the oversight and create a more discourse transactionary structure.
“There is a clear and simple solution that CFTC can now implemen. Sheh said.
CFTC is inviting stakeholder reaction on the list of spot crypto asset contracts on specified contracts. It will also evaluate potential implications under securities laws, especially about the second structure for trade of non-security assets that can become part of the investment contract.
Public comments are open through August 18 and can be presented through the CFTC website. All sub -groups will be published on the official website of the agency.
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