$ETH
CFTC submits proposed rules to the White House late at night to regulate prediction markets
From legalizing gambling to regulators grabbing territory?
Brothers
I just saw CoinDesk’s exclusive news
I literally sat up in bed, like what the hell
On September 28, the CFTC quietly submitted two sets of draft rules to the White House Office of Management and Budget
It plans to include event contracts within the regulatory definition of swaps
At the same time, it excludes casino-style gambling products
Take a good look at what they’re doing
Putting sports and election betting into the framework of financial derivatives
So what does it mean
Basically, it’s two supporting proposals
One is the review rules for listing event contracts
The other is the data reporting requirements for event contracts
The goal is to standardize the process for the listing, trading, and information reporting of prediction-based event derivatives
Which event contracts are legal
Which are prohibited
They’ll set out a clear regulatory boundary
This regulatory push was something that could have been expected long ago
After all, the betting bank failures from earlier
Once something like that really catches fire, it’s not something to joke about
So clarifying the regulatory framework is a long-term positive for the derivatives industry
And it’s also a mood boost for the crypto sector
But right now, this proposal is still just a draft
There’s a lot more to do afterward
Everything will depend on the results
#cftc向白宫提交两项事件合约规则提案
CFTC submits proposed rules to the White House late at night to regulate prediction markets
From legalizing gambling to regulators grabbing territory?
Brothers
I just saw CoinDesk’s exclusive news
I literally sat up in bed, like what the hell
On September 28, the CFTC quietly submitted two sets of draft rules to the White House Office of Management and Budget
It plans to include event contracts within the regulatory definition of swaps
At the same time, it excludes casino-style gambling products
Take a good look at what they’re doing
Putting sports and election betting into the framework of financial derivatives
So what does it mean
Basically, it’s two supporting proposals
One is the review rules for listing event contracts
The other is the data reporting requirements for event contracts
The goal is to standardize the process for the listing, trading, and information reporting of prediction-based event derivatives
Which event contracts are legal
Which are prohibited
They’ll set out a clear regulatory boundary
This regulatory push was something that could have been expected long ago
After all, the betting bank failures from earlier
Once something like that really catches fire, it’s not something to joke about
So clarifying the regulatory framework is a long-term positive for the derivatives industry
And it’s also a mood boost for the crypto sector
But right now, this proposal is still just a draft
There’s a lot more to do afterward
Everything will depend on the results
#cftc向白宫提交两项事件合约规则提案
