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Legal Alert: CFTC takes steps to increase regulatory oversight of virtual currency markets

  • Hong Kong
  • Other

05-06-2018

Protecting your assets

CFTC takes steps to increase regulatory oversight of virtual currency markets

The CFTC seeks to increase oversight of virtual currency spot and derivative markets by enlisting enforcement assistance from state securities regulators and commodities-related self-regulatory organizations.

Key Takeaways

  1. The CFTC acknowledges that virtual currencies are unlike any commodity it has dealt with in the past.
  2. Through a memorandum of agreement, state securities regulators can receive whistleblower leads, tips, complaints and referrals from the CFTC.
  3. A CFTC Staff Advisory with respect to Virtual Currency Derivative Product Listings seeks to heighten the self-regulatory obligations of exchanges and clearinghouses regarding virtual currency derivative products.

View the full legal alert here.

Duncan Watt, Of Counsel
Gregory S. Kaufman, Partner
David T. McIndoe, Partner

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