CFTC to Issue Crypto Derivatives Guidance

The advisory addresses market surveillance, large trader reporting, risk management and governance
23 May 2018   716

The leading regulator of the US markets has issued a new guide for exchanges and other trading platforms, which may be interesting listing of futures for bitcoins and other crypto-currency derivatives. This is reported by Coindesk.

In the published document, the Commodity Futures Trading Commission (CFTC) provides a number of guidelines that are recommended for the trading platforms that open up a new market for digital assets.

In particular, the CFTC recommends that exchanges provide the ability to monitor the integrity of the underlying digital asset market with which they set prices for their instruments, work closely with CFTC staff, consult with industry representatives before launching a product, and report to description of the behavior of tools.

In addition, the guidance is designed to help ensure that market participants follow appropriate governance processes with respect to the launch of these products.

Brian Bussey

Director, Division of Clearing and Risk 

A week ago, the representative of the CFTC urged regulators to determine the status of the Ethereum cryptocurrency ASAP.

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   245

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.


Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.