CME, CFE, and Cantor Certify New Bitcoin Derivatives

Julianne DardanesCryptocurrency, Market Rules & ResponsibilitiesLeave a Comment

cryptocurrency-certify-new-bitcoin-derivatives

On Friday, December 1st, the U.S. Commodity Futures Trading Commission (CFTC) agreed to allow trading of bitcoin derivatives on the Chicago Mercantile Exchange (CME), CBOE Futures Exchange (CFE), and the Cantor Exchange. The CME and CFE both self-certified new contracts for bitcoin futures, while the Cantor Exchange self-certified a new contract for binary options on bitcoin. The CFE plans to … Read More

SEC Charges for ICO Fraud

Julianne DardanesCryptocurrency, Market Rules & Responsibilities

ico-fraud-sec

As of September 29, 2017, the SEC charged businessman Maksim Zaslavskiy and his two companies, REcoin Group Foundation and DRC (Diamond Reserve Club) World, with defrauding investors via a scheme involving two faux ICO’s (initial coin offerings) backed by nonexistent investments in real estate and diamonds. This event is particularly significant because it appears to be the first time that … Read More

Overstock DAO

Julianne DardanesCryptocurrency, Market Rules & Responsibilities

overstock-com-blockchain-cryptocurrency

On September 27th Overstock.com’s blockchain-focused investment subsidiary Medici Ventures announced that its very own alternative trading system (ATS) will be open for business for any initial coin offering (ICO) in need of a new place to trade per the new SEC guidelines. This platform was initiated via a joint venture between Medici’s capital markets branch tØ along with RenGen LLC … Read More

Bitcoin Cash Fork

Julianne DardanesCryptocurrency, Market Rules & Responsibilities

bitcoin-cash

The controversial birth of Bitcoin Cash on August 1 has created a fundamental crossroads for both the users of the popular cryptocurrency along with its underlying technology. What could amount to trillion dollar questions are now being asked about the future of Bitcoin that are as much philosophical in nature as they are practical in application.

CBOE Boards the Cryptocurrency Train

Julianne DardanesCryptocurrency, Market Rules & Responsibilities

CBOE-bitcoin-options

On August 2nd, the Chicago Board Options Exchange (CBOE) launched itself into the Bitcoin market worth tens of billions of dollars via an announcement that left many of the cryptocurrency’s users jumping for joy. This announcement revealed that the CBOE has entered into an exclusive global license with Gemini Trust Company to use Gemini’s Bitcoin market data to create new … Read More

New Equity Crowdfunding Rules: Expanded Options for Intrastate Fundraising

Zach ZiliakMarket Rules & Responsibilities

Expanded-Intrastate-Offering-Options

The Jumpstart Our Business Startups Act (JOBS Act) of 2012 created the promise of widespread crowdfunding of new business ventures.  While non-equity crowdfunding options like Kickstarter and Indiegogo had been around for years, companies could not entice investors with a share of their businesses without completing extensive disclosures, limiting their offers to accredited investors, or capping the size of their … Read More

OCIE Publishes Examination Priorities for 2017

Emily HayesBest Practices, Market Rules & Responsibilities

ocie-examination-priorities-2017

Earlier this year, the SEC’s Office of Compliance Inspections and Examinations (OCIE) released its Examination Priorities for 2017.  OCIE annually examines regulated entities[1] to ensure compliance, prevent fraud, identify risk, and inform policy.  These priorities reflect the practices, products, and services that, per OCIE, present the greatest risks to investors and U.S. capital markets.  Regulated entities may use the priorities … Read More

CFTC Extends Deadline to Comply with March 1st Variation Margin Requirements

Emily HayesBest Practices, Market Rules & Responsibilities

cftc-regulations-swaps

On February 13, 2017 the Commodity Futures Trading Commission delivered an early Valentine’s Day present to swap dealers and major swap participants by extending the deadline to comply with the variation margin requirements for un-cleared swaps stipulated by Commission Regulation § 23.153 from March 1, 2017 to September 1, 2017.[1]  The CFTC’s No-Action Letter announcing this extension, CFTC Letter No. … Read More

FINRA’s 2017 Regulatory and Examination Priorities

Emily HayesBest Practices, Market Rules & Responsibilities

FINRAs-2017-regulatory-examination-priorities

Earlier this year, FINRA published its Annual Regulatory and Examination Priorities Letter to provide the industry with insights into the areas FINRA plans to review in its 2017 exams and to assist financial firms with reviewing and strengthening their own supervisory and compliance systems.  The letter states five priority areas the authority will focus on in its 2017 exams with … Read More