The definition of “commodity” under the CFTC’s authorizing statute could be read to include Bitcoin, in which case the CFTC would have authority to bring enforcement actions against anyone who attempts to manipulate the virtual currencyBeyond Currencies
“If [Bitcoin] works, we can re-implement the entire financial system as a distributed system as opposed to a centralized system. We can reinvent the entire thing.” … Bitcoin or similar technologies can be used as platforms for financial innovation in the digital transfer of currency, securities, contracts and sensitive information. Such innovation could play a fascinating role in the derivatives markets as well as financial services more broadly, as Mr. Andreessen suspects.The CFTC then seems to believe that Bitcoin has potential to recreate many of the financial industry systems. Several experts also believe that most of the futures regulation that the CFTC oversees could be written as smart contracts on the Bitcoin blockchain, thus making it unnecessary to explicitly regulate Bitcoin futures contracts.
Rarely can derivatives regulators anticipate a new market’s potential benefits while devising an appropriate regulatory framework. But virtual currencies such as Bitcoin, and other competing protocols and related technologies, represent such an opportunity.
Leader in blockchain news. The CFTC's Mark Wetjen tells CoinDesk how his agency might investigate bitcoin market manipulation and why it may not engage the industry in 2015. Bitcoin trading is currently unregulated, so it is not impossible that price manipulation already takes place. But enforcement may be difficult- the CFTC is likely to encounter challenges in gaining exchange cooperation and proving misconduct- whose definition may be open to interpretation, especially in a volatile bitcoin market. In addition, customers trading on exchanges not dealing in fiat ... Mark Wetjen, former Commodity Futures Trading Commission (CFTC) commissioner, has been roped in by Miami International Holding (MIH). MIH is the famed group behind LedgerX, one of the most popular crypto derivatives exchanges in the world. CFTC: ‘We Have the Authority over Bitcoin Price Manipulation’ If the CFTC does engage in regulation there will certainly be challenges. Monitoring exchanges will certainly be one. But they currently do not seem to have Bitcoin as a particular target. The agency simply seems to consider Bitcoin as it considers any other commodity and plan to treat it as any other asset class. In relation to ... The CFTC's Mark Wetjen tells CoinDesk how his agency might investigate bitcoin market manipulation and why it may not engage the industry in 2015.
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SUBSCRIBE: https://www.youtube.com/user/joshsnowman?sub_confirmation=1 Filtering the non-essentials and focusing on what’s important: the art of living. Each... অনলাইনে ইনকামের জন্য এই চ্যানেলের সবগুলো ভিডিও দেখুন। নতুন নতুন ভিডিও ... WATCH LIVE: House members debate and vote on a $484 billion coronavirus relief package Washington Post 10,893 watching Live now Rep. Hartzler questioning CFTC Commisioners Wetjen and O'Malia on the proposed rules on customer protections and Future Comission Merchants or FMCs residual interest needed to be changed so ... BBT Carter takes the group through the discussion heard at the ACT-IAC Accelerating Government Blockchain Conference in Washington D.C. 20 Sept. Agenda: Keyn...