The Congressional Research Service summarized current legal standards for insider trading, and described legislative reform efforts to "codify the elements of the offense and fill perceived gaps in existing doctrine."
CFTC Commissioner Stump outlined the agency's regulatory and enforcement authority with respect to digital assets. Commissioner Stump noted the proliferation of digital assets has resulted in the "grossly inaccurate oversimplification" that such assets are either SEC-regulated securities or CFTC-regulated commodities.
Three individuals settled CFTC charges for their part in a fraudulent scheme that involved offering customers "an opportunity to profit from speculative trading that was based upon price fluctuations in Bitcoin."
The U.S. House Financial Services Subcommittee on Consumer Protection and Financial Institutions held a hearing to consider proposed legislation on novel financial institution charters such as industrial loan companies, as well as state charters and licenses for cryptocurrency and blockchain firms.
The CFTC Market Participants Division provided temporary no-action relief to permit futures commission merchants to invest customer funds in certain securities containing an adjustable interest rate that is benchmarked to the Secured Overnight Financing Rate.