The CFTC Global Markets Advisory Committee advanced recommendations on: (i) the use of U.S. Treasuries as margin collateral, (ii) the securities market's move to T+1 securities settlement and (iii) a digital asset taxonomy.
News & Insights
A cryptocurrency exchange settled charges for failing to register with the SEC as a "dealer" in securities.
The House Financial Services Committee, Subcommittee on Digital Assets, Financial Technology and Inclusion considered the gaps in regulatory and enforcement efforts to combat the use of crypto-currency by bad actors.
A company that borrowed crypto securities and promised to return them with interest settled SEC charges for failing to file a registration statement or qualify for an exemption under the Securities Act.
SIFMA supported a Congressional joint resolution sponsored by Senator Cynthia Lummis (R-WY) and Representatives Mike Flood (R-NE) and Wiley Nickel (D-NC) to disapprove SEC Staff Accounting Bulletin No. 121, which prevents banks from providing custodial services to digital assets investors by requiring them to keep those assets on-balance sheet.