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US CFTC Futures Trading Commission Believes in Cryptocurrency

10/16/2018
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Legal regulation of the cryptocurrency market will lead to the full legalization of these assets. Already, a large number of institutional investors and large traders are showing an increased interest in trading in digital instruments. This was stated by the head of CFTC Christopher Giancarlo.

Cryptocurrency futures

In his speech, the head of the Commodity Futures Trading Commission spoke about the great success in regulating the cryptocurrency market. Under the supervision of his ministry, futures for two assets were introduced into the trade. They showed that this market is attractive to large investors. In turn, the emergence of key players will make the market more transparent and predictable

In its work, the Commission adheres to the rule of maximizing the development of new technologies. The principle of "do no harm" allows you to open exchange trading for the financial instruments of the future.

At the same time, Christopher Giancarlo notes the presence of a large number of unscrupulous players in this market. CFTC takes a very tough stance against them. Over the past month, the ministry won two important courts that recognized cheating on cryptocurrency trading as equal fraud in the circulation of classic financial instruments.

Stepping up CFTC

The US Commodity Futures Commission took a very tough, and in some way even aggressive position. Over the past year, it has imposed fines totalling $ 0.9 billion. This is more than in the past five years. She can enter into her assets in the following areas:

  • price distortion;
  • exchange rate frauds;
  • attempts of customer fraud in fact.

However, even Christopher Giancarlo himself admits that the cryptocurrency derivatives market is still far from perfect. The blockchain technology has created not only solutions but also significant problems. The fact that institutional investors are now rushing here gives hope for a quick stabilization.

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