Part 1: Commentary on the Significance of the Guidance for the Industry
On March 24, 2020, the U.S. Commodity Futures Trading Commission (CFTC) finalized long-awaited interpretive guidance regarding what constitutes the “actual delivery” of a digital asset in the context of a retail commodity transaction under the Commodity Exchange Act.
This interpretive guidance is noteworthy because it is likely to guide the commercial development—and regulatory oversight—of the marketplace for leveraged, margined, and financed transactions that involve digital assets, including virtual currencies.
We have prepared a three-part update series in order to provide the industry with a critical analysis of this significant regulatory event, beginning with the CFTC’s actual delivery guidance with commentary on the significance of this guidance for emerging digital currency industry.
Please find the link to Part 1 here. The two subsequent parts will follow next week.