FTX Dochteronderneming LedgerX staat onder het vizier van CFTC

• Commodity Futures Trading Commission (CFTC) commissioner Kristin N. Johnson said that the regulator of the US derivatives markets had “boots on the ground” at LedgerX.
• Johnson repeated remarks made by CFTC Chairman Rostin Behnam, who said at a futures conference that his agency’s oversight was responsible for LedgerX’s ability to avoid bankruptcy.
• CFTC requires FTX’s subsidiary to have reserves, including a one-year liquidity reserve, and to refrain from touching, pledging, investing, or posing any other threats to functioning capital.

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On Thursday, a commissioner of the Commodity Futures Trading Commission (CFTC), Kristin N. Johnson, stated that the regulator of the US derivatives markets had “boots on the ground” at LedgerX, a US-based division of the FTX, whose CEO had recently resigned due to uncertainty surrounding the functioning of the firm.

At a conference on cryptocurrency regulation in London, Johnson was expressing her views on the matter and stated that the financial regulator was “monitoring and overseeing on a daily, if not hourly basis, verifying what we believe to be the case, which is [that] every dollar of customer assets held at LedgerX continues to be available.”

Opmerkelijk is dat de CFTC en FTX US, de Amerikaanse tak van de faillissementscrypto-uitwisseling, communiceerden met elkaar met behulp van LedgerX. Het diende in 2017 een aanvraag in bij de CFTC om een gereguleerd derivatencentrum te worden voordat het vorig jaar door FTX werd overgenomen.

She repeated remarks made by CFTC Chairman Rostin Behnam, who said earlier this week at a futures conference that his agency’s oversight was responsible for LedgerX’s ability to avoid bankruptcy. Johnson emphasized that LedgerX was one of the businesses left out of FTX’s bankruptcy filing on Friday.

CFTC’s Regulation Of LedgerX

Volgens commissaris Johnson had de CFTC het mandaat gegeven dat LedgerX gescheiden fondsen afzonderlijk aanhield, onderhevig aan maandelijkse, driemaandelijkse en jaarlijkse onderzoeken, en balansen en geverifieerde bankafschriften verstrekte om de legitimiteit van activa op rekeningen namens consumenten te bewijzen.

Additionally, she claimed, it requires FTX’s subsidiary to have reserves, including a one-year liquidity reserve, and to refrain from touching, pledging, investing, or posing any other threats to functioning capital.

She asserted that the CFTC always has “a number of options” for providing oversight to maintain market integrity, even in the absence of regulation.

En toch, volgens Johnson, heeft de CFTC directe autoriteit van het Congres nodig om te communiceren met marktdeelnemers en hen te dwingen het regelgevingskader van de Amerikaanse markten te betreden.

She compared the interaction between American regulators to “coming to Thanksgiving dinner” and added that “there are some folks you might not necessarily sit beside.”

CFTC versus SEC

Er is een constante strijd geweest tussen CFTC en SEC over wie het groene signaal krijgt om de crypto-ruimte over te nemen en de voorzitters van beide toezichthouders zijn van mening dat Bitcoin een handelswaar is, terwijl beide verschillende versies hebben waarvan tokens als effecten kunnen worden beschouwd en die als handelswaar kunnen worden beschouwd.

Recently, a polician criticized SEC Chai Gary Gensler and called his organization “power hungry.”

“Under Chair Gensler, the SEC has become a power-hungry regulator, politicizing enforcement, baiting companies to “come in and talk” to the Commission, then hitting them with enforcement actions, discouraging good-faith cooperation,” said Gensler.

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