Express
The CFTC Commissioner Said That The CFTC Does Not Regulate Commodities, Whether It Is Securities Or Not, But Regulates Derivatives
Summary: Dawn Stump, the commissioner of the Commodity Futures Trading Commission (CFTC) issued a statement on Monday outlining the authority of the CFTC in the crypto market and its restrictions. The statement said that the CFTC does not regulate commodities (regardless of whether they are securities); instead, it regulates derivatives, whether digital assets or any other ...
Dawn Stump, the commissioner of the Commodity Futures Trading Commission (CFTC) issued a statement on Monday outlining the authority of the CFTC in the crypto market and its restrictions.
The statement said that the CFTC does not regulate commodities (regardless of whether they are securities); instead, it regulates derivatives, whether digital assets or any other asset class.
The statement explained: "To determine the CFTC’s regulatory authority with respect to a digital asset, ask not whether the digital asset is a commodity or security — ask whether a futures contract or other derivatives product is involved.... A trading platform that offers derivatives on digital assets to U.S. persons without registering, or in violation of CFTC trading rules, is subject to the CFTC’s enforcement authority. That was the case in the recent CFTC enforcement action against BitMEX, and the CFTC has brought similar such actions dating back to 2015."
By Mary Liu
Tags: CFTC,Dawn Stump,Regulate,securities
Link: The CFTC Commissioner Said That The CFTC Does Not Regulate Commodities, Whether It Is Securities Or Not, But Regulates Derivatives [Copy]
