PANews reported on March 29 that according to Bloomberg, the U.S. Commodity Futures Trading Commission (CFTC) is scaling back its review of risks associated with digital asset clearing and trading to align the review with other assets regulated by the agency.
The CFTC is withdrawing two staff advisories immediately to ensure there is no suggestion that “regulatory treatment of digital asset derivatives will differ from other products,” the agency said in a statement. In practice, the change could make it easier for digital asset companies to list cryptocurrency futures.
The move affects trading advisories starting in 2018 and clearing advisories starting in 2023. For the former, the agency said it no longer needs the advisory because its staff has accumulated sufficient experience with virtual currency derivatives over the years.
The agency said the same principles still apply to the listing of any derivatives product, including the idea that products cannot be easily manipulated. It said the withdrawal would not affect the CFTC’s ability to oversee the clearing of derivatives markets and avoid systemic risk.
