Re:Robinhood Crypto Gets Wells Notice from US SEC
by ajross on Monday May 06, 2024 @01:41PM
(#40277241)
Again, that's wrong. The CFTC absolutely does not handle regulation of options and bond funds and ETFs, etc... You seem to be invoking this "commodities" thing as a trick, and that's not how it works. We've seen this repeatably now where the SEC has to come at crypto outfits with a cluebat and explain to them (in court!) that yes: crypto assets are securities. Why do you really think it's going to be different this time?
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Re:Robinhood Crypto Gets Wells Notice from US SEC
by siftrics on Monday May 06, 2024 @01:51PM
(#40277381)
From the CFTC's official website:
"The Commodity Futures Trading Commission is an independent U.S. government agency that regulates the U.S. derivatives markets, including futures, options, and swaps."
Also from their official website: 20 quadrillion per week in settled trades. Too lazy to look up the equities numbers, but I would bet everything I own it's lower.
Also from the CFTC's website:
"Bitcoin is considered a commodity and is the underlying asset in bitcoin futures contracts… Bitcoin futures contracts — like other commodity futures contracts such as corn futures, market index futures, or gold futures — are regulated by the CFTC and must trade on CFTC-regulated exchanges."
Re:Robinhood Crypto Gets Wells Notice from US SEC
by JumpCrisscross on Monday May 06, 2024 @03:27PM
(#40278560)
SEC regulates securities-based derivatives. I used to professionally make markets in those.
SEC and CFTC are both claiming jurisdiction over Bitcoin.