CFTC Announced the Normative Document Regulating the Cryptocurrency Sphere

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The Futures Trading Commission for Commodities Exchanges (CFTC) issued an advisory message, which provides information on listing products related to digital currencies. The official press release was published on May 21. The message is focused on exchanges and clearing companies.

The advisory information developed by the DMO and the CFTC Clearing and Risk Division (DCR) is aimed at certain financial spheres, especially in the field of digital currencies. The document addresses such aspects as greater market control, cooperation with the CFTC, reporting by large companies, and risk management.

Director of DMO Amir Zaidi noted that the main task of the CFTC is to provide maximum clarity in the regulatory framework:

“CFTC staff will seek to provide additional guidance to help market participants keep pace with innovation while complying with CFTC regulations.”

President Blockchain.com Marko Santori noted that the main task of the CFTC is to identify large traders in the cryptocurrency area, and they should also work on creating recommendations for the work of companies in the cryptocurrency area. The Securities and Exchange Commission (SEC), in turn, faces more complex tasks, such as the classification of tokens.

Previously, the SEC developed and launched a web page that will help investors understand what ICO is and determine which of them are fraud. It is worth noting that the SEC and the CFTC are closely cooperating. Recently, they held a joint meeting on the regulation of the cryptocurrency sphere.

This post is also available in: ruРусский

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