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 LedgerX highlights CFTC regulatory gap in customer asset rules

LedgerX highlights CFTC regulatory gap in customer asset rules


Published: 2023-11-04


1. Regulatory Gap in Customer Asset Rules: The article highlights a significant regulatory gap in the customer asset rules of the Commodity Futures Trading Commission (CFTC). LedgerX,a Bitcoin derivatives exchange,has raised concern over the lack of clarity regarding the custody of customer assets held by clearinghouses. The company argues that the current rules do not adequately protect customer funds in the event of a bankruptcy or default of a clearinghouse. This gap in the regulatory framework puts customer assets at risk and raises the need for stricter guidelines and supervision to safeguard investors' funds.

2. LedgerX's Complaint against the CFTC: LedgerX has filed a formal complaint with the CFTC,stating that the regulatory gap poses a threat to the integrity of the market. The company believes that the current rules favor larger players,such as banks and futures commission merchants,while leaving retail investors exposed to potential losses. LedgerX asserts that introducing clear rules and safeguards for customer assets will enhance market stability,foster investor confidence,and create a level playing field for all participants.

3. Potential Impact on the Cryptocurrency Industry: The unclear and insufficient regulations surrounding the custody of customer assets not only threaten the integrity of the Bitcoin derivatives market but also have the potential to negatively impact the broader cryptocurrency industry. Without robust rules in place,investors may be hesitant to enter the market,leading to reduced liquidity and slower growth for the sector. Moreover,the absence of adequate safeguards may hinder the development of institutional-grade infrastructure,limiting the participation of traditional financial players in cryptocurrencies. Clearer regulations and stricter oversight are crucial to ensure the long-term viability and sustainability of the cryptocurrency ecosystem.


Reference: cointelegraph.com

The most traded coin


(Update every 1 hour)
at from is ($US) turnover ($)
1 BTC title=BTC 66,990.01 1,413,290,404.26
2 ARS title=ARS 1,109.50 890,167,898.80
3 ETH title=ETH 3,084.01 706,662,831.30
4 SOL title=SOL 176.52 665,667,097.79
5 PEPE title=PEPE <0.01 181,264,768.28
6 WIF title=WIF 2.72 179,415,928.42
7 RUNE title=RUNE 6.78 117,592,524.59
8 XRP title=XRP 0.51 110,875,720.57
9 DOGE title=DOGE 0.15 102,900,947.68
10 BONK title=BONK <0.01 91,672,820.90
11 LINK title=LINK 16.40 91,030,444.96
12 NEAR title=NEAR 7.83 80,536,206.89
13 PYTH title=PYTH 0.45 74,506,150.07
14 FTM title=FTM 0.88 73,494,272.75
15 BOME title=BOME 0.01 73,009,781.55
16 CREAM title=CREAM 71.94 69,282,832.65
17 RNDR title=RNDR 10.12 67,520,003.59
18 ENA title=ENA 0.72 60,195,808.47
19 AVAX title=AVAX 35.75 45,709,774.03
20 ORDI title=ORDI 39.25 45,596,796.04
21 FLOKI title=FLOKI <0.01 45,134,161.48
22 PENDLE title=PENDLE 5.32 43,289,781.38
23 BCH title=BCH 486.10 42,313,871.07
24 PEOPLE title=PEOPLE 0.04 42,241,202.52
25 UNFI title=UNFI 4.91 41,996,036.03
26 WLD title=WLD 4.74 41,942,454.63
27 AR title=AR 47.13 39,965,119.36
28 ADA title=ADA 0.47 36,280,849.62

Coins with rapidly rising prices


(Update every 1 minute)
at from is ($US) more (%)
1 Unifi Protocol DAO title=UNFI 4.91 +25.56
2 Viction title=VIC 0.50 +19.19
3 Pendle title=PENDLE 5.32 +12.02
4 Raydium title=RAY 1.97 +10.70
5 dogwifhat title=WIF 2.72 +9.87
6 Ooki title=OOKI <0.01 +8.63
7 Theta Network title=THETA 2.30 +7.83
8 Pyth Network title=PYTH 0.45 +7.44
9 Gnosis title=GNO 311.90 +6.23
10 Sui title=SUI 1.09 +5.53
11 Solana title=SOL 176.52 +5.32
12 Marlin title=POND 0.02 +5.32
13 BOOK OF MEME title=BOME 0.01 +5.27
14 Harvest Finance title=FARM 74.31 +5.14
15 Pepe title=PEPE <0.01 +4.44
16 Injective title=INJ 25.31 +4.29
17 Aevo title=AEVO 0.82 +4.19
18 BinaryX title=BNX 1.12 +4.01
19 TrueFi title=TRU 0.13 +3.52
20 Golem title=GLM 0.53 +3.51
21 SSV Network title=SSV 43.70 +3.48
22 Cream title=CREAM 71.94 +3.30
23 IOTA title=IOTA 0.22 +3.27
24 Orion title=ORN 1.38 +2.92
25 Ampleforth Governance title=FORTH 3.99 +2.78
26 FLOKI title=FLOKI <0.01 +2.61
27 Arkham title=ARKM 2.41 +2.60
28 Voyager title=VGX 0.08 +2.53
29 Theta Fuel title=TFUEL 0.10 +2.50
30 BEAMX title=BEAMX 0.03 +2.48

The price of coins is falling rapidly.


(Update every 1 minute)
at from is ($US) reduce (%)
1 Manchester City Fan Token title=CITY 3.17 -10.11
2 Keep3rV1 title=KP3R 74.36 -7.97
3 Bluzelle title=BLZ 0.28 -7.66
4 ForTube title=FOR 0.02 -6.27
5 Alchemix title=ALCX 23.13 -5.90
6 DIA title=DIA 0.45 -5.78
7 Hive title=HIVE 0.31 -5.27
8 Phala title=PHA 0.19 -5.22
9 Lisk title=LSK 1.72 -5.07
10 Celestia title=TIA 8.64 -4.21
11 Portal title=PORTAL 0.72 -4.18
12 Synapse title=SYN 0.75 -3.94
13 Wanchain title=WAN 0.23 -3.77
14 DeXe title=DEXE 12.32 -3.65
15 Fusionist title=ACE 4.46 -3.63
16 Akropolis title=AKRO <0.01 -3.51
17 AdEx title=ADX 0.19 -3.33
18 AS Roma Fan Token title=ASR 3.66 -3.25
19 0x Protocol title=ZRX 0.54 -3.24
20 Dusk title=DUSK 0.34 -3.23
21 SuperRare title=RARE 0.11 -3.21
22 Decred title=DCR 19.36 -3.20
23 PlayDapp title=PDA 0.07 -3.20
24 Yield Guild Games title=YGG 0.85 -3.18
25 Radworks title=RAD 1.62 -3.17
26 xMoney title=UTK 0.08 -3.10
27 BurgerCities title=BURGER 0.44 -3.01
28 eCash title=XEC <0.01 -2.98
29 OAX title=OAX 0.22 -2.93
30 Polkastarter title=POLS 0.72 -2.87

Bitcoin's Greed and Fear Index.

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70
Greed

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at news day date time
1 FOMC Member Bostic Speaks Monday 20-05-2024 12:30
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3 FOMC Member Waller Speaks Monday 20-05-2024 14:00
4 FOMC Member Barr Speaks Monday 20-05-2024 14:00
5 FOMC Member Jefferson Speaks Monday 20-05-2024 15:30
6 FOMC Member Mester Speaks Monday 20-05-2024 19:00
7 Treasury Sec Yellen Speaks Tuesday 21-05-2024 09:00
8 FOMC Member Waller Speaks Tuesday 21-05-2024 14:00
9 FOMC Member Barkin Speaks Tuesday 21-05-2024 14:00
10 FOMC Member Williams Speaks Tuesday 21-05-2024 14:05
11 FOMC Member Bostic Speaks Tuesday 21-05-2024 14:10
12 FOMC Member Barr Speaks Tuesday 21-05-2024 16:45
13 FOMC Member Mester Speaks Wednesday 22-05-2024 00:00
14 Existing Home Sales Wednesday 22-05-2024 15:00
15 Crude Oil Inventories Wednesday 22-05-2024 15:30
16 FOMC Meeting Minutes Wednesday 22-05-2024 19:00
17 Unemployment Claims Thursday 23-05-2024 13:30
18 Flash Manufacturing PMI Thursday 23-05-2024 14:45
19 Flash Services PMI Thursday 23-05-2024 14:45
20 New Home Sales Thursday 23-05-2024 15:00
21 Natural Gas Storage Thursday 23-05-2024 15:30
22 FOMC Member Bostic Speaks Thursday 23-05-2024 20:00
23 Core Durable Goods Orders m/m Friday 24-05-2024 13:30
24 Durable Goods Orders m/m Friday 24-05-2024 13:30
25 FOMC Member Waller Speaks Friday 24-05-2024 14:35
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