🇺🇸💰🚀 The United States strengthens its position in the cryptocurrency market: CFTC launches new regulatory initiatives*🔥
The U.S. Commodity Futures Trading Commission (CFTC) has begun implementing the White House's recommendations on cryptocurrencies, aiming to make America the cryptocurrency capital of the world. This includes working closely with the U.S. Securities and Exchange Commission (SEC) to regulate cryptocurrencies.
*Key Recommendations*
- Provide guidance on how cryptocurrencies are considered commodities
- Define how its registration requirements work with decentralized finance
- Consider amending rules to accommodate derivatives based on blockchain technology
- Create a regulatory sandbox
- Allow registrants to provide multiple services within a single user interface
*Joint Work with SEC*
- Coordinate to establish a rule-making process
- Use their existing authorities to provide complete regulatory clarity
*Actions Taken by CFTC*
- Meeting with cryptocurrency executives to discuss the industry
- Withdrawing old staff advisories related to cryptocurrencies
- Concluding consultations on allowing trading of derivatives around the clock and perpetual contracts
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