CFTC Approves Spot Crypto

The U.S. Commodity Futures Trading Commission (CFTC) announced that Spot Crypto Asset Contracts will for the First time, be Traded on Exchanges Registered with the Agency.

This step, First hinted at in August, is intended to bring Digital Assets further into Mainstream Finance and give Americans Safer, Regulated, Market Access.

Acting Chair Caroline Pham highlighted the need for Reliable U.S. Markets after recent Problems on Offshore Exchanges.

The CFTC also recently sought Public Input on using Tokenized Collateral, such as Stablecoins, in Derivatives Markets.

Under Trump (R), the Sigital Assets industry has gained Support through Efforts like the:

GENIUS Act: A U.S. Federal Law that aims to create a Comprehensive Regulatory Framework for Stablecoins. Stablecoins are a Type of Cryptocurrency that are backed by Assets considered to be Reliable such as a National Currency or a Commodity. Stablecoins are typically used to Transfer Funds between different Cryptocurrency Tokens. The Act requires Stablecoins to be Backed One-for-One by U.S. Dollars or Other Low-Risk Assets.This establishes a Stringent Standard for purposes of Determining Reserves, doing Audits, and providing Transparency for Buyers.

Prior to Passage of the Act,Sstablecoins were Not Required to Maintain a 1-to-1 backing with a Low-Risk Asset. The Act serves as a First Step in establishing Dual Federal and State Supervision and Consumer Protection.

CLARITY Act: The Clarity Act was introduced to address the Regulatory Uncertainty surrounding Digital Assets and Cryptocurrencies. It seeks to provide Clear Definitions and Guidelines for Digital Commodities, ensuring Consumer Protection while Fostering Innovation in the Financial Technology Sector. The Act aims to Resolve the Ongoing Jurisdictional Disputes between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) regarding the Regulation of Digital Assets.

in Contrast to Joe Biden’s (D) more Restrictive Stance focused on Limiting Fraud and Money Laundering.










NYC Wins When Everyone Can Vote! Michael H. Drucker