CFTC Proposes Clarification on Crypto Regulation, Launches ‎Bitcoin Web Resource

[kreslik.news]

In response to a perceived gap in regulating the cryptocurrencies, particularly after the CBOE began offering futures contracts earlier this week, the CFTC issued a proposed interpretation concerning its authority over retail transactions involving Bitcoin and similar cryptocurrencies.

The proposed interpretation provides guidance on how the CFTC will apply the “actual delivery” exception to its jurisdiction over crypto transactions.

Section 2(c)(2)(D) of the Commodity Exchange Act (CEA) granted the CFTC broad jurisdiction over retail commodity transactions, including those that take the form of leveraged or margined contracts. As such, the CFTC’s jurisdiction is implicated when a virtual currency is used in a ... (read more)