Crypto Land of Confusion

Dual Regulation Strikes Again Two of the most powerful financial regulators in the United States (actually, one could persuasively argue that their power extends to the world), the Commodity Futures Trading Commission (CFTC) and the Securities & Exchange Commission (SEC) have been going back-and...

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Bibliographic Details
Published inFutures (Cedar Falls, Iowa) no. 538; pp. 39 - 41
Main Author Falvey, James M
Format Magazine Article
LanguageEnglish
Published Chicago Alpha Pages 01.12.2017
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Summary:Dual Regulation Strikes Again Two of the most powerful financial regulators in the United States (actually, one could persuasively argue that their power extends to the world), the Commodity Futures Trading Commission (CFTC) and the Securities & Exchange Commission (SEC) have been going back-and-forth since 2014 with rulings and guidance on the cryptoverse.LedgerX touted itself as "a new derivatives exchange and clearinghouse that will serve the digital currency market by offering physically settled swaps and options contracts."Cryptoverse skinny These high-level definitions are a combination of my thought process and experience along with descriptions provided on Dictionary.com. * Bitcoin is a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.Whenever the Bitcoin Blockchain is updated the veracity of all of the previous transactions is re-confirmed. * Cryptocurrencies, also referred to as "digital money," "virtual currency," or "magic Internet money" are digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, typically operating independently of a central bank. * Cryptoverse is the name of a podcast adopted by industry players to describe the world of cryptocurrencies, blockchain and initial coin offerings, as well as anything else that is developed or invented in this space. * Initial Coin Offering (ICO) is a means of crowdfunding via use of cryptocurrency or tokens, which are issued during a company's ICO and is a source of capital for a start-up company.
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ISSN:2379-4674