Bitcoin is the leading owner of the sector and is also referred to the world by US regulators and courts as a commodity, which is placed under the constituents of the commodity futures trade commission. That agency is Now looking for public comments In whether it should open the wider world of trade derivatives around the time, such as executed for Bitcoin and other digital properties.
Although the CFTC is expected to be established as a crypto market regulator on Congress’ ongoing efforts to promote industry policies, the agency’s invitation for comments released on Monday does not clearly discuss the oversight of digital assets. The request records that “technology advances and market demand” are driving companies controlled by the CFTC towards handling transactions all the time.
“As I have long been said, the CFTC should make a forward approach to changes in market structure to ensure that our markets remain vibrant and resilient while protecting all participants,” Acting Chairman Caroline Pham said in a statement. He was tapped by President Donald Trump to run the agency while it awaits its Senate confirmation Chairman Nominee, Brian Quintenz.
Trading without downtime presents a host of challenges for US markets that are not accustomed to it, according to the request, including “what are management frameworks, exchange staff models are required to ensure market and operational integrity, as well as compliance with all the basic principles, under a continuous trade model.” Such expansion will require companies to handle live maintenance and technology patches and monitoring of systems and markets during the extended time, which are issues that have long wrestled with digital assets operations.
The CFTC will still need to change the law before it has direct authority to actual trading of the Bitcoin spot-market and other tokens that will eventually categorize as security, which will get security and exchange commission management. If the agency is ultimately a major trading regulator and platforms and companies that hold customers’ transactions, that is a space where 24 hours, seven-day-a-week activity is the model.
