Critics warn new framework for Bitnomial and LedgerX may undermine clearing integrity
Clearing market contributors are alarmed by a double rulemaking issued by the US Commodity Futures Buying and selling Fee on the finish of final yr, which they concern has bent the foundations on clearing too far in an effort to accommodate the unconventional market construction of cryptocurrency buying and selling.
The CFTC has proven itself “prepared to weaken regulation to appease the crypto professionals”, says a former head of clearing at a futures fee service provider (FCM).
That view was shared by Democrat commissioner Christy
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