As AI use proliferates, the advisory reminds CFTC-regulated entities of their existing obligations and the CFTC’s intention to monitor for ongoing risks.
On December 5, 2024, the staff of the Commodity Futures Trading...more
With appropriate safeguards, distributed ledger technology may expand the use of non-cash assets as derivatives collateral, while mitigating certain market infrastructure inefficiencies....more
12/13/2024
/ Blockchain ,
Books & Records ,
CFTC ,
Collateral ,
Commodity Exchange Act (CEA) ,
Compliance ,
Derivatives ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
Information Reports ,
Tokenization
Understanding NFTs as commodities calls for a more nuanced analysis than what their “non-fungible” label might suggest at first glance.
The appropriate regulatory characterization of cryptocurrencies and digital assets...more
The viability of DAO structures draws attention after a judge declares that a decentralized autonomous organization is a “person” under the law.
On June 8, 2023, the US District Court for the Northern District of...more
The proposed bill sets forth a comprehensive framework for the digital asset ecosystem by bridging regulatory gaps, promoting innovation, and protecting consumers.
On June 2, 2023, Patrick McHenry, Chairman of the House...more
6/30/2023
/ Advisory Committee ,
Anti-Fraud Provisions ,
Anti-Manipulation Rule ,
CFTC ,
Commodity Exchange Act (CEA) ,
Consumer Protection Laws ,
Cryptoassets ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Investment Contract ,
Non-Fungible Tokens (NFTs) ,
Proposed Legislation ,
Registration Requirement ,
Regulatory Authority ,
Securities and Exchange Commission (SEC) ,
Stablecoins
The CFTC would take center stage in the regulation of spot digital asset markets under Title IV of the RFIA.
Latham & Watkins presents a blog series on the Responsible Financial Innovation Act, which was introduced in...more
A sovereign nation’s decision to adopt Bitcoin as legal tender raises interesting questions — and legal ramifications.
On June 8, 2021, El Salvador’s Legislative Assembly voted to establish Bitcoin as unrestricted legal...more
6/25/2021
/ Article 9 ,
Banking Sector ,
Bitcoin ,
CFTC ,
Commodity Exchange Act (CEA) ,
Cryptocurrency ,
El Salvador ,
Exchange-Traded Products ,
Financial Action Task Force ,
Foreign Currency ,
IRS ,
Money Transfer ,
Multinationals ,
New Legislation ,
Securities and Exchange Commission (SEC) ,
Uniform Commercial Code (UCC)
This Client Alert White Paper serves as a comprehensive guide to the new rule, which largely supersedes prior CFTC guidance that had informed market practice for over seven years.
Key Points:
..The new rule became...more
The long-awaited guidance clarifies the application of the “actual delivery” exception to leveraged virtual currency transactions with retail purchasers.
Earlier this year, the US Commodity Futures Trading Commission...more
Product innovation (including in pooled investment vehicles) is encouraged, but innovation must be consistent with the law.
The US Commodity Futures Trading Commission’s (CFTC’s) Division of Swap Dealer and Intermediary...more
3/5/2020
/ CFTC ,
Commodity Exchange Act (CEA) ,
CPOs ,
Derivatives ,
Digital Assets ,
Disclosure Requirements ,
DSIO ,
Enforcement Actions ,
Futures ,
National Futures Association ,
Pooled Investment Vehicles ,
Regulatory Violations
Latham & Watkins has collaborated with ConsenSys to launch the Automated Convertible Note to help startups raise capital using a traditional financing instrument with an eye toward a future distribution of tokens.
In...more
5/28/2019
/ Capital Raising ,
CFTC ,
Commodities ,
Commodity Exchange Act (CEA) ,
Convertible Notes ,
Financial Instruments ,
Most-Favored Nations ,
Securities ,
Securities Exchange Act ,
Startups ,
Token Sales
The NFA will soon require CPO, CTA, FCM, and IB member firms to provide various disclosures warning investors of virtual currency spot and derivatives trading risks.
New disclosure requirements warning customers,...more
The action reflects the CFTC’s expanded jurisdiction and provides further clarity on what constitutes “actual delivery” in cryptocurrency trading.
On June 2, 2016, the US Commodity Futures Trading Commission (CFTC)...more
With recent release, the CFTC hopes to eliminate market uncertainty on forward contracts with embedded volumetric optionality.
UPDATE (June 18, 2015): On May 12, 2015, the CFTC adopted the Proposal as proposed (as used...more