The US Senate Agriculture Committee held a hearing titled "Examining Digital Assets: Risks, Regulation, and Innovation" on 9 February, where discussion centered in large part on the best way to provide regulatory certainty for emerging digital asset markets.
Timothy Massad, former chairman of the Commodity Futures Trading Commission and former assistant secretary of the Treasury for financial stability, delivered the following speech at the FIA/SIFMA Asset Management Derivatives Forum on 7 February in Dana Point, Calif.
Cash-settled futures on bitcoin have been a smash success for CME, but they sometimes diverge from prices in the spot market. That has spurred interest in physically delivered contracts. Much like in the classic agricultural futures markets, the buyers and sellers of these contracts are obligated to exchange the underlying cryptocurrency when the contract expires. This mechanism effectively forces the spot and futures prices to converge at settlement.
Since 2018, CME Group has been the leader in offering a fully regulated marketplace for bitcoin futures. Its dominant position is now being challenged, however, with two large market operators stepping into the space through acquisitions.
Since 2018, CME Group has been the leader in offering a fully regulated marketplace for bitcoin futures. Its dominant position is now being challenged, however, with two large market operators stepping into the space through acquisitions.
The Commodity Futures Trading Commission’s (CFTC) Market Participants Division (MPD) (formerly the Division of Swap Dealer and Intermediary Oversight) published guidance regarding the deposit of virtual (crypto) currencies by customers and holding of these currencies by futures commission merchants (FCMs) to margin customer transactions in crypto currency futures.
Institutional investors are increasingly showing an appetite for crypto markets, said experts at FIA International Derivatives Expo conference in London on Tuesday. However, they noted a key barrier to full-scale adoption is a lack of clear regulation.
FIA joined five trade associations in a response to the Basel Committee on Banking Supervision’s consultative document on the prudential treatment of cryptoassets. The associations support BCBS’s decision to engage in an iterative approach to the prudential treatment of cryptoassets. However, the associations emphasize the need to provide clarity for the banks as the client demand grows.
While climate change and crypto assets are clearly top of mind, the policy agenda around them remains cloudy. Our markets can play a significant role in both.
Non-fungible tokens (NFTs) have received considerable press attention lately, as retail and institutional interest has boomed for digital art, commemorative items, and other assets that reside in blockchain ecosystems.
In a letter submitted to the SEC today, FIA PTG again encouraged the Commission to reject IEX’s proposal to modify the resting price of its Discretionary Peg Order type.
In a letter submitted to the SEC today, FIA PTG encouraged the Commission to consider the impact and overall fairness of this mechanism, which proposes to modify the resting price of its Discretionary Peg Order type, on any displayed protected quotes on IEX.
FIA PTG submitted a letter to the SEC today in support of the Managed Funds Association (MFA) - Alternative Investment Management Association (AIMA) Petition for Rulemaking Regarding Market Data Fees and Request for Guidance on Market Data Licensing Practices; Investor Access to Market Data.
