Michael Selig, a senior Securities and Exchange Commission (SEC) official and pro-crypto voice, is ready to face a pivotal Senate affirmation listening to subsequent week for his nomination to guide the U.S. Commodity Futures Trading Commission (CFTC). The listening to, scheduled for Wednesday, November 19, at 3:00 p.m., marks an important second for the company…
A brand new bipartisan crypto market construction invoice within the U.S. Senate may dramatically develop the powers of the Commodity Futures Trading Commission (CFTC), giving it sweeping oversight of digital commodities, however unresolved gaps and political gridlock nonetheless threaten its passage. The dialogue draft, released by Senate Agriculture Committee Chairman John Boozman (R-AR) and Senator…
US President Donald Trump has chosen Michael Selig to steer the Commodity Futures Trading Commission (CFTC) in a significant improvement on Friday. This transfer provides to the lengthy checklist of optimistic actions by the Trump administration focused at offering regulatory readability for the crypto trade. Pro-Crypto Selig Gets Nod For CFTC Leadership On Friday, Bloomberg…
US President Donald Trump is getting ready to nominate Michael Selig as the subsequent chair of the Commodity Futures Trading Commission (CFTC), in accordance to a report by Bloomberg, which cited an unnamed administration official. Key Takeaways: President Trump is predicted to nominate Michael Selig as the subsequent CFTC chair, in accordance to Bloomberg. Selig’s…
Kraken has acquired Small Exchange, a CFTC-regulated Designated Contract Market, from IG Group for $100 million, marking a serious step in its effort to broaden into the US derivatives market. Key Takeaways: Kraken acquired CFTC-regulated Small Exchange for $100 million to broaden its US derivatives operations. The deal permits Kraken to join spot, futures, and…
A leaked draft from the US Senate Banking Committee Democrats outlines an aggressive method to decentralized finance (DeFi), proposing that any individual or agency “designing, deploying, working or benefiting from a DeFi front-end” be regulated as a dealer and register with the SEC or CFTC. The textual content would additionally lengthen KYC/AML obligations to DeFi…
Crypto.com has secured approval from the Commodity Futures Trading Commission (CFTC) to provide margined derivatives, together with on cryptocurrencies, by way of its affiliate Crypto.com | Derivatives North America (CDNA). Key Takeaways: Crypto.com has obtained CFTC approval to provide cleared margined derivatives by way of its affiliate CDNA. Its US subsidiary, Crypto.com | FCM, is…
The White House is contemplating new candidates to guide the Commodity Futures Trading Commission (CFTC) amid delays in Brian Quintenz’s affirmation course of, stories this week allege. White House Considering New CFTC Chair Picks According to a September 24 report from Semafor, the White House is former CFTC official Josh Sterling because the company’s potential…
The U.S. Commodity Futures Trading Commission (CFTC) has unveiled an initiative, letting stablecoins function tokenised collateral in derivatives markets. CFTC performing chair Caroline Pham announced Tuesday that the company will “work intently with stakeholders” on the directive. She referred to as it the “killer app” to modernize markets by adopting non-cash collaterals and thus reducing…
The US Commodity Futures Trading Commission (CFTC) has named some crypto leaders as new members to its Global Markets Advisory Committee (GMAC) and its Digital Asset Markets Subcommittee (DAMS). Key Takeaways: The CFTC has added high crypto and Wall Street figures to its Digital Asset Markets Subcommittee. JPMorgan’s Scott Lucas and Franklin Templeton’s Sandy Kaul…