Bitcoin is the best asset in the Crypto sector and is also universally defined by American regulators and courts as a commodity, putting it under the jurisdiction of the Futures Futures Trading Commission. This agency is now looking for public comments on the question of whether it should open the wider world of derivatives to 24 -hour trading, as already executed for Bitcoin and other digital assets.
Although the CFTC should be established as a cryptography market regulator in the continuous efforts of the congress to establish industry rules, the agency’s invitation to the comments issued on Monday does not explicitly discuss digital assets. Demand notes that “technological progress and market demand” push companies regulated by CFTC to be able to manage transactions at any time.
“As I have said for a long time, the CFTC must adopt a prospective approach to changes in the structure of the market to ensure that our markets remain dynamic and resilient while protecting all participants,” said the acting president, Caroline Pham, in a press release. It was operated by President Donald Trump to manage the agency as she awaits confirmation from the Senate of her candidate president, Brian Quintenz.
Trading without arrest time has a multitude of challenges for unusual American markets, according to demand, in particular “what governance frameworks, endowment models and technologies would be necessary to ensure market integrity and operational resilience, as well as compliance with all basic principles, within the framework of a continuous negotiation model”. Such expansion would require companies to manage maintenance and technology fixes live and human surveillance of systems and markets during extended hours, which are already long with digital asset operations.
The CFTC would still need a change of law before it could have direct authority on the real trading of the Bitcoin cash market and other tokens which are not ultimately classified as titles, which would receive monitoring of titles and the exchange committee. If the agency is ultimately a major trading regulator and platforms and companies that manage customer transactions, it is a space in which the 24 -hour and seven day activity is already the model.
