It may not be CFTC oversight for crypto, but the derivatives industry's self-regulator, the National Futures Association, is stepping into the regulatory vacuum with standards for members engaged in crypto commodities. jesseahamilton reports
under penalty of fines and other punishment, and this rule extends that power more explicitly to the crypto sector.– currently limited to involvement with bitcoin and ether – gives the NFA “the ability to discipline a member or take other action to protect the public if a member commits fraud or similar misconduct with respect to its spot digital asset commodity activities,” the group said in the March 29 statement.
The Commodity Futures Trading Commission oversees the NFA and the wider industry, though questions remain as to the extent of its authority over digital assets. A number of legislative efforts in the U.S. Congress have sought to give the CFTC undeniable powers over crypto commodities and the spot market, but the bills haven’t yet produced results.
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