Former biotech company Riot Blockchain has announced that it may launch a cryptocurrency exchange and futures brokerage platform. In a public filing dated March 27, the former biotech firm said that it “intends to investigate launching a digital currency exchange and a futures brokerage operation” in the US. Continue reading Riot Blockchain Says It May Launch US Cryptocurrency Exchange
Bitcoin futures may have been launched with tremendous fanfare – XRP futures, on the other hand, not so much. But in fact, U.K.-based startup Crypto Facilities has been operating a futures market for
the world’s third-largest cryptocurrency, developed by blockchain startup Ripple Inc., for almost 18 months now. And while the company’s CEO, Timo Schlaefer, has been tight-lipped about the product so far, he sees trends in recent data that indicate broader XRP futures adoption may be on the horizon.
“We have pretty good order books,” Schlaefer told CoinDesk, “And we’re in the process of working with some of the large market makers to draw that further.” Continue reading Ripple’s XRP Just Might Be the Next Big Crypto Futures Market
The rising popularity of Initial Coin Offerings (ICOs) — and an accompanying spate of fraud and market volatility — has prompted an overdue debate in Washington, D.C., and around the world, about the proper regulatory policies for ICOs and cryptocurrencies more generally. Some of the most common questions involve the appropriate division of authority between the Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC), and whether their authority should reach deep into the heart of the cryptocurrency ecosystem, the spot market. Still, others contemplate whether or not an entirely new or alternative regulatory regime is needed for cryptocurrency and token fundraisers, not only here but also in Europe and elsewhere. Continue reading ICO White Paper
He’s at it again! CFTC Chairman Chris Giancarlo has taken to Twitter to promote informed investment in cryptocurrencies. Giancarlo earned his accolade as Crypto Dad from the crypto community following his opening speech at the SEC Commission on virtual currencies. Drawing upon his own experience as a father of children highly excited by virtual currencies, the former business executive called for an open-minded approach and fair regulation. Since the speech he has adopted the title, inserting #CryptoDad into his official Twitter biography and earning the love of a large part of the cryptocurrency community. Giancarlo is instantly likable – and not just from his beaming profile pic and progressive attitude towards distributed ledger technology. His use of language on the official CFTC account, which can only be described as ‘down with the kids’, sets him apart from what most people would expect from a financial regulation official. It’s fresh, funny, and we can’t get enough of it. Like any good dad however, Giancarlo knows how to balance humor with sound advice. Earlier this month investors were warned to watch out for pump and dump scams and not blindly follow tips from social media or jump on sudden price spikes.
The US Commodity Futures Trading Commission (CFTC) has given its employees the green light to trade cryptocurrencies, a decision that came in response to “numerous” inquiries from agency staff. The policy, which Bloomberg reports was announced in a Feb. 5 memo written by CFTC general counsel Daniel Davis, said that because the agency has determined that cryptocurrencies are commodities, employees can trade them like they would precious metals, barrels of oil, and other commodities. However, this policy has several caveats. CFTC employees may not trade cryptocurrencies on margin, nor may they take advantage of any insider information they acquire in the course of their work at the regulatory agency. The CFTC first determined that cryptocurrencies are commodities in 2014, giving the agency a modicum of oversight on cryptocurrency trading. While the agency does not have the authority to supervise cryptocurrency exchanges — which are currently regulated at the state level under money transmitter laws — it has direct oversight of US cryptocurrency futures markets, the first of which launched in December on Chicago-based exchanges CBOE and CME. CFTC regulators may also investigate fraud and manipulation in the spot markets, and the agency has brought suits against several alleged cryptocurrency investment scams.