What's next for FTX’s proposal for crypto derivatives trading in the US? - Aliens: AI Crypto News & Markets Updates
Logo
Logo

Feed

Coins

About

Latest

Bitcoin

Ethereum

NFT

Gaming

Policy

Blockchain

Altcoins

What's next for FTX’s proposal for crypto derivatives trading in the US?

PublisherPublisher
The Block

Thu, May 26, 2022

Banner

Aliens TLDR

The CFTC is busily working on FTX’s proposal to offer disintermediated crypto derivatives trading in the US.

While the proposal has been wracked by political controversy, the CFTC is clearly invested in it.

Despite pushback from some in traditional finance, FTX’s proposal is in the hands of the CFTC.

Yesterday, the Commodity Futures Trading Commission hosted a roundtable discussion on disintermediation , largely prompted by a much-discussed proposal from FTX , though the commission emphasizes that other proposal also aim to disintermediate clearing.

There’s been plenty of criticism of FTX’s proposal.

But, as FTX CEO Samuel Bankman-Fried told The Block following the hearing: “In the end, what’s going to matter is the process of the commission and our application.” Barring concerted force majeure from Congress, the CFTC will make its own decision at its own pace.

Following seven hours of discussion, Chairman Rostin Behnam quipped in his closing remarks: “After two and a half years, we were reminded of the endurance it takes to stay in this room all day.” Behnam himself has defended the processing of the proposal and promoted the expansion of the CFTC’s role in crypto.

Read full article on Aliens appRead from Original Source

The best experience is on the app

Everything happening in the crypto world, in real time

app

Recommended Stories

Article list item background

AscendEX lists Walken (WLKN): A leading ‘Walk-to-Earn’ game

AscendEX is excited to announce the listing of Walken’s token under the trading pair: $WLKN/USDT. Trading begins at 2:00 PM UTC on July 1st, 2022. ‘Walken’ is a ‘Walk-to-Earn’ game on Solana where players can convert their daily activity into in-game currency. Using a mobile device or wearable, gamers can easily track their steps and […]
AMB Crypto
·

4h

Altcoin

Recommended Stories

Article

Bitcoin: Decoding why BTC fell below $20k mark on 30 June

Article

Can Ethereum continue holding its $1000 level amid major sell-off

Article

CFTC Cites $1.7 Billion MLM In Its 'Largest Fraud Scheme Case Involving Bitcoin'

Article

Will the ApeCoin price fall to $2 this summer

Article

DOJ Files Charges Against Baller Ape Club ‘Rug Pull’

Article

eToro abandons SPAC deal: The Information

Article

Shiba Inu investors can consider this metric before exiting their position

The best experience is on the app

Download app to discover exclusive content, live market updates and more.

Get smarter and richer with the Aliens Crypto Digest

Stay informed and entertained, for free.

Follow Aliens

Advertise