that other crypto firms should follow Cboe’s lead and fit within the existing traditional markets structure first and foremost:
“Too often in recent years, crypto firms have sought to take a business model or market structure that exists in an unregulated environment and port it over to the regulated environment. The CFTC does not have a window into the risks associated with models or structures in an unregulated environment.”
“Cboe has not done that, instead operating within the parameters of the traditional futures market structure and regulatory framework,” she added.FTX prior to its bankruptcy,The Commissioner explained that Cboe’s approval came after the regulator requested additional measures for “critical risk-mitigation” to lay out an approach to account for several “heightened risks” related to the digital asset market.
The approval has also been seen as a positive step for Cboe as it will allow traditional financial firms access crypto futures without intermediaries having to take custody.
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