3 ms·
> It is not illegal to operate a spot commodities exchange without approval from the SEC In the case of spot markets CFTC can only intervene if there is a frau
by nivertech 3y ago
> It is not illegal to operate a spot commodities exchange without approval from the SEC
In the case of spot markets CFTC can only intervene if there is a fraud or manipulation. There is also “actual delivery rule”, I.e. if crypto “exchange” didn’t settled spot trade on underlying Blockchain or a ledger in 28 days - they effectively created a derivative, and fall under the CFTC mandate.