CFTC Don Launch Di Second Crypto Sprint for Spot Trading
Di US Commodity Futures Trading Commission (CFTC) don start im second crypto sprint to collect public comments about spot crypto trading regulation. Di crypto sprint go dey gather feedback on retail leverage, margin, and financing for CFTC-registered exchanges till di deadline wey be October 20.
Acting Chair Caroline D. Pham tok say stakeholder input na important to help shape how dem go oversee di agency and to carry out two main recommendations from di White House digital asset report: to classify cryptocurrencies as commodities and to update rules for blockchain-based derivatives.
Dis sprint follow one earlier effort wey dem explore spot crypto contracts for futures platforms. E still dey happen when leadership dey uncertain, as President Trump pick Brian Quintenz dey wait for Senate confirmation and Commissioner Kristin N. Johnson dey plan to leave later this year.
Separately, Pennsylvania lawmaker Ben Waxman don introduce bill to stop public officials from profiting more than $1,000 in crypto during their term and one year after, with penalty up to $50,000 or five years jail time.
Neutral
Di launch wey de target second crypto sprint dey show how CFTC dey try clear rules for spot crypto trading. For short time, the plan no go change price because e de focus on how people go talk their mind and not immediate punishment. For long time, clear rules for leverage wey retail people fit take, margin, plus how dem dey classify commodity fit help make market steady and make people trust am more. But still, the wahala for who dey lead and possible new law from bill for public officers fit kill how people dey feel. The mix wey balance between government engagement and how e go for future mean say e no go affect crypto price too much.