🇺🇸 THE CFTC IS PROPOSING ITS FIRST-EVER U.S.
#BITCOIN AND CRYPTO MARKET RULES ⚡️
CFTC Chairman Michael Selig says the agency is beginning its first round of regulations specifically designed for crypto markets.
The proposals are called:
➡️ Regulation Crypto Asset Transactions (CTX)
➡️ Regulation Crypto Asset Markets (CAM)
Selig says the rules would create requirements for CFTC-registered exchanges offering crypto assets for trading and provide crypto exchanges with an option to operate under a single federal market-regulatory framework.
And there is another major detail:
Selig says an earlier joint CFTC and SEC interpretation clarified that a range of crypto assets, “including bitcoin and ether,” are non-securities within the CFTC's regulatory authority.
In other words 👉 The CFTC is moving toward a purpose-built federal regulatory framework for Bitcoin and crypto markets.
Selig says the agency is moving away from trying to fit crypto into legacy regulations designed for fund...