CFTC withdraws the consultant on encryption derivatives, and remove the organizational obstacle to obtain the lists

The CFTC Revolutionary Committee (CFTC) is canceling a consultant that requires a strict review of the derivatives of new virtual assets – financial tools that derive their value from the basic encrypted currency, allowing investors to predict price movements without owning the original directly.

in statementThe organizational agency says that the division of censorship in the market (DMO) and the Clearing and Risk Department (DCR) decided to withdraw CFTC employees No. 18-14 (the consulting regarding the lists of products derived from virtual currency) immediately.

DMO and DCR originally issued a consulting on May 21, 2018, to provide guidelines for improved standards for derivative contracts that will be included in the DCM market or the swap implementation facility (SEF), or to disinfect it by the derivative clearing organization (DCO).

at that time , DMO and DCR He said that the risk of encryption markets justify the audit by CFTC employees and registered entities.

“In light of the risks discussed above, employees highlight some of the main areas that require special attention in the context of the inclusion of a new virtual currency derivative contract according to the authority’s regulations 40.2 or 40.3. Topics are: (a) Monitoring the enhanced market; (b) coordination with CFTC employees;

On March 27, CFTC announced the consulting withdrawal. The agency says the guidance reflects its employees’ thinking in 2018 based on experience in the products of encryption derivatives.

“DMO and DCR decided that the consultant is no longer needed due to additional experience of employees with lists of products derived from virtual currency and increased market growth and maturity.”

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