Bitcoin Futures Self-Certification to be discussed by the CFTC

North America United States

The self-certification process used to approve new cryptocurrency derivatives products will be one of the topics of the upcoming meetings of the U.S. Commodity Futures Trading Commission committees.

CFTC chairman J. Christopher Giancarlo said in a Thursday statement Thursday that the self-certification process would be discussed by the market risk advisory committee and a broad use of cryptocurrencies will be tackled by the commission’s technology advisory committee.

“The responsible regulatory response to virtual currencies is consumer education, asserting CFTC authority [and] surveilling trading in derivative and spot markets,” said Giancarlo and continued to list some risks associated with cryptocurrencies such as unregulated and unsupervised trading platforms, cybersecurity risks, speculative risks, Ponzi schemes and others.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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