News & Analysis as of

Virtual Currency › Futures Commission Merchants (FCMs)

Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender... more +
Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender status, Virtual Currency is still traded and exchanged in some environments, typically online environments or communities. Bitcoin is the most well-known form of Virtual Currency.    less -
Orrick, Herrington & Sutcliffe LLP

The CFTC Issues Advisory Regarding an FCM's Risks of Accepting Virtual Currency into Segregation

Orrick, Herrington & Sutcliffe LLP on

Virtual currency presents risks to futures commission merchants (FCMs) when deposited by futures customers or cleared swaps customers to margin futures, options on futures, or cleared swap transactions, according to an...more

Latham & Watkins LLP

CFTC Adds Another Building Block to its Digital Asset Framework

Latham & Watkins LLP on

The CFTC issues stringent guidelines for FCMs seeking to custody digital assets in connection with physically delivered futures contracts or swaps. The US Commodity Futures Trading Commission’s (CFTC’s) Division of Swap...more

Perkins Coie

Blockchain Week in Review: October 2020

Perkins Coie on

U.S. Developments - Kik & SEC Agree to $5M Judgment - On October 20, 2020, Canadian messaging company Kik Interactive Inc. (Kik) and the U.S. Securities and Exchange Commission (SEC) agreed to resolve an ongoing enforcement...more

Orrick - On the Chain

CFTC: Virtual Currency Creates Real Segregation Risks

Orrick - On the Chain on

Virtual currency presents risks to futures commission merchants (FCMs) when deposited by futures customers or cleared swaps customers to margin futures, options on futures, or cleared swap transactions, according to an...more

Kramer Levin Naftalis & Frankel LLP

New Disclosure Rules Enhance Crypto Investor Protection

Kramer Levin Naftalis & Frankel LLP on

Amid concerns that many investors may not fully understand the risks associated with virtual currencies, or the limits of regulatory oversight, the National Futures Association (NFA) recently issued an interpretive notice...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on

U.S. Financial Industry Developments - SEC Disapproves the Listing and Trading of Nine Bitcoin Related Exchange Traded Products - On August 22, 2018, the SEC released three Orders, acting through authority delegated to...more

Katten Muchin Rosenman LLP

Bridging the Weeks - August 2018

Katten Muchin Rosenman LLP on

For the second time this year, a Commodity Futures Trading Commission-registered futures commission merchant and National Futures Association member was sanctioned by both regulators for allegedly not supervising post-trade...more

Morgan Lewis

NFA Proposes Interpretive Notice Mandating New Virtual Currency Disclosures

Morgan Lewis on

The National Futures Association’s proposed virtual currency disclosure requirements would be applicable to futures commission merchant, introducing broker, commodity pool operator, and commodity trading advisor member firms....more

Katten Muchin Rosenman LLP

Between Bridges – July 27, 2018: National Futures Association Proposes Interpretive Notice Requiring FCM, IB, CTA and CPO...

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National Futures Association Proposes Interpretive Notice Requiring FCM, IB, CTA and CPO Disclosures Regarding Virtual Currency Activity - The National Futures Association has proposed to adopt an Interpretive Notice that...more

Sheppard Mullin Richter & Hampton LLP

Apple Updates Crypto Currency Aspects of App Store Review Guidelines

Sheppard Mullin Richter & Hampton LLP on

Apple’s App Store Review Guidelines have been updated to address various aspects of crypto currency. Some of the relevant provisions include the following. One of the provisions relates to prevents an app from including...more

Katten Muchin Rosenman LLP

Corporate and Financial Weekly Digest - Volume IX, Issue 44

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In this issue: - SEC Sanctions 10 Companies for Disclosure Failures Surrounding Financing Deals and Stock Dilution - Delaware Court of Chancery Rejects Entire Fairness Review in Absence of Conflicted Transaction...more

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