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CFTC Rewrites Crypto Rules for Future Markets
21 Jan
Summary
- CFTC launches Future-Proof initiative to update crypto and prediction market rules.
- Outdated regulations, written for agricultural futures, are no longer suitable.
- Transparent rules aim to protect investors and foster industry growth.
The Commodity Futures Trading Commission (CFTC) has initiated its Future-Proof program to modernize regulations governing digital assets and prediction markets. CFTC Chair Mike Selig highlighted that existing rules, originally created for agricultural futures, are not suited for the rapidly evolving crypto market.
This initiative prioritizes prediction markets, which have seen significant growth despite regulatory uncertainty. The CFTC aims to establish transparent regulations to protect investors and support sustainable industry expansion.
Furthermore, the program acknowledges the growing influence of artificial intelligence and blockchain technology in finance. Innovations like 24/7 trading, facilitated by these technologies, are being considered.
