In this opinion piece, the authors explain the significance of a recent CFTC approval regarding the LedgerX cryptocurrency derivatives platform, and its potential impact on the market. As interest in cryptocurrencies continues to grow, ‘crypto-derivatives’ may begin to find a place alongside other more established elements of the crypto economy, such as payments and securities tokens.
Up Next in Blockchain
The U.S. Securities and Exchange Commission (SEC) has confirmed that blockchain tokens are not exempt from securities laws, ruling that tokens issued last year by The DAO (a decentralized autonomous organization that utilized the Ethereum blockchain and was subsequently hacked) constituted “securities”. The SEC chose not to take legal action in that case, indicating that it will investigate similar initial coin offerings (ICOs) on a case-by-case basis.
There is No Blockchain Exemption in Securities Law
International Business Times UK - Ian Allison
The WFE represents more than 200 market infrastructure providers, and is currently exploring how distributed ledger technology (DLT) can better optimize processes and efficiency in the exchange and central counterparties (CCPs) ecosystem.
World Federation Of Exchanges To Establish DLT Working Group