Interesting development from CFTC as it relates to treating exchanges - perhaps possible to argue that an “algorithm” that provides market making functionality (eg AMM) for derivatives doesn't have to register as a licensed market… kinda scary IMO
I believe this CFTC Order may end up being one of the most relevant and telling regulatory actions for DeFi founders and investors yet. More than any other prior order, the CFTC directly emphasizes and assesses some of the key elements of "true" DeFi platforms in this order.
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Jan 5, 2022 · 12:45 AM UTC · Twitter for iPhone