Several major and traditional finance companies have to the Commodity Futures Commission’s () on crypto asset mechanics as late as Feb. 25.
The CFTC published its inquiry in late December 2018. In it, the regulator’s LabCFTC initiative, focused on innovations, sought public comments on the main principles of the network. The watchdog’s reported aim was to understand similarities and distinctions between different and the “technology, mechanics, and markets for virtual currencies beyond .”
In particular, the request for input focuses on (), along with opportunities and risks associated with its ecosystem.
As of press time, 35 crypto and traditional finance companies have provided detailed comments on the matter to the CFTC. consortium , the non-profit Foundation, U.S. and ErisX, tech company , crypto finance company and Weiss Ratings were among the companies that submitted responses.
In his comments, R3’s managing director Charlie Cooper also the CFTC for its initiative. He gave some predictions on the evolution of in 2019, saying that he believes that asset-backed , such as those pegged to gold or objects, along with native asset , will form the future of the industry.
Gus P. Coldebella, chief legal officer at Circle, that the network, which supports different types of digital assets, can contribute to the global tokenization of value. Tokenization can also make assets more accessible online and internationally, as the internet makes information transfer easier and more accessible.
Brian Brooks, chief legal officer at , on the risks and regulations surrounding the ecosystem. For instance, the company believes that the CFTC’s intention to properly oversee the spot and derivatives markets for ETH can be negatively impacted by the fact that the majority of happens outside the U.S.
As Cointelegraph earlier in February, Chicago-based ErisX a comment in response to the CFTC’s request. The exchange believes that “the introduction of a regulated futures contract on Ether would have a positive impact on the growth and maturation of the market.”
Published at Thu, 28 Feb 2019 05:05:47 +0000
