TechFlow News, Oct. 7 — The chair of the U.S. Commodity Futures Trading Commission (CFTC) said that under its proposed rules, only federally regulated cryptocurrency exchanges would be allowed to offer leveraged trading.
Michael Selig noted that state regulators “can only license money transmission activities.” He added that the 100x leverage commonly seen in offshore markets has never been permitted in the United States, and “that won’t change under the proposed rules.”
Michael Selig noted that state regulators “can only license money transmission activities.” He added that the 100x leverage commonly seen in offshore markets has never been permitted in the United States, and “that won’t change under the proposed rules.”