With FairX acquisition, is Coinbase moving away from the SEC and towards CFTC - Aliens: AI Crypto News & Markets Updates

Feed

News

Live News

About

Advertise

Latest

Bitcoin

Ethereum

NFT

Gaming

Policy

Blockchain

Altcoins

With FairX acquisition, is Coinbase moving away from the SEC and towards CFTC

PublisherPublisher
AMB Crypto

Thu, Jan 13, 2022

Banner

Aliens TLDR

On 13 January, Coinbase announced that it was acquiring the CFTC-regulated derivatives exchange FairX.

An excerpt from the official press release noted , “Today, we’re announcing the acquisition of FairX, a CFTC-regulated derivatives exchange or Designated Contract Market...Through this acquisition, we plan to bring regulated crypto derivatives to market, initially through FairX’s existing partner ecosystem.” It’s important to note this development is far more than a business strategy.

Rather, it might be a sign that Coinbase is venturing deeper into the domain of crypto services and products regulated by the Commodity Futures Trading Commission [CFTC].

The Digital Commodity Exchange Act of 2020 is another piece of proposed legislation that aims to streamline the regulation of crypto exchanges or trading platforms, by giving the CFTC more authority to handle them.

In fact, former CFTC Commissioner Brian Quintenz – when in conversation with a Ripple official – criticized the common “Wild West” comparison used to describe the crypto sector.

Some market participants may call this “regulation by enforcement.” I just call it “enforcement.” “ One critic of this view was Ripple’s General Counsel Stuart Alderoty, who felt that the SEC’s approach would chill activity in the crypto sector.

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

What to expect next after Axie Infinity trades over a strong demand area

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice On a short-term basis, Axie Infinity has seen some demand step in around the $68-$70 area. This is an important demand zone, stretching all the way south to $64. It is not yet clear whether […]
AMB Crypto
·

2h

altcoin

Recommended Stories

Article

What to expect next after Axie Infinity trades over a strong demand area

Article

Metaverse startup Animoca Brands hits valuation of over $5B

Article

Nexus: Integrating blockchain functionality with traditional applications

Article

ENGN: Bridging the gap between Metaverse and gaming

Article

WhaleFin Partners with Non-Profit Organization Whale and Dolphin Conservation

Article

These are the steps Binance is taking to curb scammers’ activities in the cryptosphere

Article

MEXC Global to list GARI network supporting a creator economy in Web3 era

Article

Crypto ATM operators in S'pore cease services in compliance with MAS' new guidelines

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