CFTC Warns Prediction Markets Over Shortcut Self-Certification of Event Contracts

·1 views

The U.S. Commodity Futures Trading Commission (CFTC) has issued a new advisory targeting prediction market operators. The regulator cautioned firms against using generic, cookie-cutter approaches when self-certifying event contracts. The warning suggests that some companies have been bypassing thorough compliance procedures in their contract filings. This is not the first such advisory from the CFTC, indicating the issue has persisted within the industry.

Read the full story at CoinDesk

This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Discussion (0)

Strict EU and UK Crypto Rules May Trigger Wave of Industry Mergers

Europe is tightening its grip on the cryptocurrency sector as the EU's Markets in Crypto-Assets regulation (MiCA) takes hold and the United Kingdom moves toward finalizing its own crypto framework. The high compliance costs and operational demands of these regulations are expected to place significant pressure on smaller crypto firms. Industry analysts suggest this regulatory burden could drive a wave of mergers and acquisitions as companies seek scale to meet requirements. Closer partnerships between crypto firms and traditional banks are also anticipated as businesses look for ways to navigate the stricter environment.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Shiba Inu jumps 36% driven by surge in South Korean trading volume

Shiba Inu (SHIB) has recorded a sharp 36% price surge in a rally that lacks any clear fundamental catalyst or official announcement. South Korean cryptocurrency exchanges appear to be the primary driver, carrying a disproportionately large share of the trading volume. The move appears isolated to SHIB, as other dog-themed tokens have not seen comparable gains. Analysts and observers remain puzzled by the rally's origins, with no project news or major partnership to explain the spike.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

BitMart crypto exchange to shut down after nine years of operation

Cryptocurrency exchange BitMart has announced it will permanently cease operations after nine years in business. The exchange has given users one month to close any open trades and six months to complete fund withdrawals. No specific reason was provided by BitMart for the decision to shut down. Following the announcement, the exchange's native BMX token plummeted by 58% in value.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Sberbank to Build Crypto Trading Infrastructure by December 2024

Russia's largest bank, Sberbank, is planning to establish a cryptocurrency trading infrastructure by December. The move comes as Russia prepares to implement new regulations governing crypto trading, custody, and settlement, which take effect on September 1. The regulatory framework will require licensed intermediaries to comply with additional requirements starting July 2027. Sberbank's initiative positions it as an early mover in Russia's emerging regulated digital asset market.

0 comments Read more at CoinDesk