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

Litecoin falls beneath a bullish order block, could $40 be next target

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the opinion of the writer. Just a week ago, Litecoin [LTC] rallied to the $61 level but faced rejection there. This was a bearish development, especially for long-term investors. The market structure continued to remain bearish, and […]
AMB Crypto
·

Jul 3

Altcoin

Recommended Stories

Article

AAVE traders have this in store for coming days after bearish pennant’s…

Article

Assessing the odds of The Sandbox [SAND] falling below $1 mark

Article

Axie Infinity: Risk would be to buy range lows with a stop-loss at…

Article

Stellar: Factors that didn’t play in favor of XLM’s rally despite…

Article

Bitcoin, Ethereum and Altcoins Present Signs of Incoming Price Turnaround; Here’s When

Article

BTC, SOL and AVAX Price Analysis for July 2

Article

3 Reasons Why Bitcoin Might Retrace in Upcoming Week and Reach $22,000

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