The U.S. Commodity Futures Trading Commission (CFTC) is focusing on the regulation of customer assets in the derivatives market. However, their current proposal does not fully address the unique operational model of LedgerX, a crypto platform. LedgerX operates as a direct clearing organization (DCO), which deviates from the traditional role of intermediaries. Commissioner Kristin Johnson has raised concerns about the regulatory framework not keeping up with the industry’s rapid evolution. LedgerX has gained attention for its direct settlement of cryptocurrency transactions and has obtained several CFTC registrations. Commissioner Johnson advocates for a revised regulatory framework that provides uniform protection for retail clients, regardless of whether they trade through intermediaries or directly with non-intermediated DCOs like LedgerX. The public has a 75-day window to offer feedback on the proposal, which could help address the regulatory deficiencies. It is crucial for the CFTC to ensure that regulatory measures keep pace with the changing derivatives market to protect retail customers and maintain a fair environment.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	1
People	Kristin Johnson
Companies	FTX, LedgerX, U.S. Commodity Futures Trading Commission (CFTC), Miami International Holdings Inc. (MIH)
Currencies	None
Securities	None