Defunct Hedge Fund Accused Of Mishandling $1B In Assets law360.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from law360.com Daily Mail and Mail on Sunday newspapers.
If cryptocurrencies are a commodity, can they interact with oil trading?
Faisal Faeq
Short Url
https://arab.news/g2zpz
Amid the rise of virtual currencies, the US Commodity Futures Trading Commission (CFTC) declared cryptocurrencies to be commodities, thus indirectly stating that they were not currencies or investment vehicles, but crypto-commodities that could be tradable in the real or virtual world with exclusive tokens.
A little bit of history: The CFTC defined Bitcoin and other virtual currencies (cryptocurrencies) as commodities under the US Commodity Exchange Act in late 2014.
The CFTC has always enforced its principles to prosecute fraud, abuse, manipulation, or false solicitation in markets for virtual currency derivatives and underlying spot trading. However, cryptocurrencies have had a transformational impact on CFTC-regulated markets and the agency itself.
Richard B. Levin is a lawyer at Nelson Mullins law firm in their Denver office. Richard is chair of the FinTech and Regulation Practice and focuses on the regulation of blockchain and digital assets and represents early stage and publicly traded companies
FairX Announces New Futures Exchange for Retail Investors
CHICAGO, May 26, 2021 /PRNewswire/ In alignment with many of the largest online brokerage firms, clearing firms and liquidity providers, FairX today announced plans to launch a new CFTC-regulated futures exchange to offer smaller, simpler, more accessible futures for active individual investors.
A wide range of firms have committed to offering FairX products at launch, including TD Ameritrade, E Trade Financial, ABN AMRO Clearing Chicago LLC, ADM Investor Services, Advantage Futures, Dorman Trading, StoneX, Wedbush, Virtu Financial and XTX Markets. Nodal Clear, part of EEX Group, which is in turn part of Deutsche Börse Group, will provide clearing services to FairX.