On October 21, the Division of Swap Dealer and Intermediary Oversight (DSIO) of the Commodity Futures Trading Commission issued an advisory to futures commission merchants (FCMs) regarding the holding of virtual currency in segregated accounts. The advisory, Letter No. 20-34, provides guidance to FCMs on how to hold and report certain deposited virtual currency from customers in connection with physically delivered futures contracts or swaps and how to maintain appropriate risk management programs concerning the acceptance of virtual currencies as customer funds.
Continue Reading CFTC Staff Issues Advisory on Virtual Currency for Futures Commission Merchants
CFTC Issues Request for Input on Crypto-Assets
By Christian B. Hennion & Jun Qiu on
Posted in CFTC, Digital Assets and Virtual Currencies
As part of its LabCFTC initiative, the Commodity Futures Trading Commission issued a Request for Input (RFI) to deepen the CFTC’s understanding of the technology, mechanics, and markets for Ether and its use on the Ethereum Network. In particular, the RFI seeks to understand similarities and distinctions between Ether and Bitcoin (as well as other…