$BTC
đșđžUPDATE: CFTC now lets US brokers invest customer funds in TOKENIZED assets and keep records on-chain.
CFTC staff updated their crypto FAQs today, adding four new answers and revising one:
Tokenized investments:
Brokers and clearinghouses can invest customer funds in tokenized ve
#CFTCUpdatesGuidanceOnTokenizedAssets rsions of approved investments, if the tokens carry the same legal rights.
Tokenized government money market funds are included, with a custodian's written acknowledgment.
Swap dealers can now use tokenized money market fund shares as margin for uncleared swaps.
On-chain records:
Brokers, exchanges and clearinghouses can use blockchains to meet recordkeeping rules.
Firms can keep records only on-chain, with no off-chain copy required.
Firms on public blockchains must still be able to produce records if the network goes down.
What's unchanged:
Crypto, including stablecoins, still can't be used as margin for uncleared swaps.
The questions came from dYdX, the Blockchain Association and the Solana Policy Institute.
It comes two days after Chairman Mike Selig said US markets must prepare for "mass tokenization."
đșđžUPDATE: CFTC now lets US brokers invest customer funds in TOKENIZED assets and keep records on-chain.
CFTC staff updated their crypto FAQs today, adding four new answers and revising one:
Tokenized investments:
Brokers and clearinghouses can invest customer funds in tokenized ve
#CFTCUpdatesGuidanceOnTokenizedAssets rsions of approved investments, if the tokens carry the same legal rights.
Tokenized government money market funds are included, with a custodian's written acknowledgment.
Swap dealers can now use tokenized money market fund shares as margin for uncleared swaps.
On-chain records:
Brokers, exchanges and clearinghouses can use blockchains to meet recordkeeping rules.
Firms can keep records only on-chain, with no off-chain copy required.
Firms on public blockchains must still be able to produce records if the network goes down.
What's unchanged:
Crypto, including stablecoins, still can't be used as margin for uncleared swaps.
The questions came from dYdX, the Blockchain Association and the Solana Policy Institute.
It comes two days after Chairman Mike Selig said US markets must prepare for "mass tokenization."
