🕵️ Like a financial investigator who specializes in complex corn crime…
While the SEC regulates securities like stocks and bonds, the Commodity Futures Trading Commission (CFTC) regulates the US derivatives markets, including futures and options on futures (picture: corn futures). The CFTC has said that some crypto, like bitcoin, is a commodity, meaning it should oversee bitcoin derivatives trading. Yesterday the CFTC sued Binance — the world's largest crypto exchange — claiming the exchange failed to register with the CFTC while letting scores of US customers trade crypto derivatives. FYI: nearly 20% of Binance's revenue comes from US customers.
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