The U.S. Commodity Futures Trading Commission sued New York on Friday in its latest action to shield what the agency has argued is its unassailable nationwide regulatory authority over prediction market firms. Earlier this week, New York sued Coinbase and Gemini, arguing that their prediction market contracts violated state gambling laws. And last year, the […]
Commodity Futures Trading Commission Chairman Mike Selig told CoinDesk that the agency will continue to defend its “exclusive regulatory authority” to oversee prediction markets in court. “It doesn’t matter if it’s on sports, politics or anything else, if it’s a validly offered product within a CFTC-regulated exchange, then we regulate that,” Selig said. You’re reading […]
Though we’re still waiting on a lot of the formal rulemaking and proposed rulemaking from the federal securities and commodities regulators, last week’s memo is another sign that the SEC and CFTC are at least serious about signalling these efforts are coming. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of […]
The U.S. markets regulators are melding their operations in the places where the duties of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) overlap, and building a crypto oversight framework is listed among the core aims of a written agreement released on Wednesday. Most of the objectives of the memorandum […]
The U.S. Commodity Futures Trading Commission issued no-action letters to the operators of prediction markets platforms Polymarket, PredictIt, Gemini and LedgerX/MIAX on Thursday, announcing that the companies did not have to meet certain recordkeeping demands as long as they meet other specified requirements, and that the companies might be able to clear contracts through a […]
The Commodity Futures Trading Commission (CFTC) on Monday launched a pilot program allowing select digital assets — bitcoin BTC$90,938.56, ether ETH$3,134.24 and USD Coin (USDC) or other payment stablecoins — to be used as collateral in U.S. derivatives markets. The program, announced by Acting Chairman Caroline Pham, is part of a broader push to give […]
President Donald Trump has named his new choice to lead the U.S. Commodity Futures Trading Commission, formally backing Securities and Exchange Commission lawyer Mike Selig after jettisoning his one-time pick of former CFTC Commissioner Brian Quintenz. The near-term leadership of the Commodity Futures Trading Commission could be a weighty matter for the crypto industry as […]