{"id":445494,"date":"2022-05-12T00:15:00","date_gmt":"2022-05-11T21:15:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/chairmen-from-the-sec-and-cftc-talk-crypto-regulation-at-isda-meeting\/"},"modified":"2022-05-12T00:15:00","modified_gmt":"2022-05-11T21:15:00","slug":"chairmen-from-the-sec-and-cftc-talk-crypto-regulation-at-isda-meeting","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/chairmen-from-the-sec-and-cftc-talk-crypto-regulation-at-isda-meeting\/","title":{"rendered":"# Chairmen from the SEC and CFTC talk crypto regulation at ISDA meeting"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a417a13a96a1\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a417a13a96a1\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/chairmen-from-the-sec-and-cftc-talk-crypto-regulation-at-isda-meeting\/#%E2%80%9D_Chairmen_from_the_SEC_and_CFTC_talk_crypto_regulation_at_ISDA_meeting_%E2%80%9C\" >&#8221; Chairmen from the SEC and CFTC talk crypto regulation at ISDA meeting &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Chairmen_from_the_SEC_and_CFTC_talk_crypto_regulation_at_ISDA_meeting_%E2%80%9C\"><\/span>&#8221; Chairmen from the SEC and CFTC talk crypto regulation at ISDA meeting &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvZGQ4YzIwNWQtOTlhMC00YzNiLWFmN2YtMjVhNTViZjM5ZTM2LmpwZWc=.jpeg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>The annual meeting of the International Swaps and Derivatives Association (ISDA) began Wednesday in Madrid. United States Securities and Exchange Commission (SEC) chairman Gary Gensler and U.S. Commodity Futures Trading Commission (CFTC) chairman Rostin Behnam were both featured as keynote speakers at the event, with Behnam speaking at the morning session, and Gensler in the afternoon. \u00a0<\/p>\n<p>Behnam <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cftc.gov\/PressRoom\/SpeechesTestimony\/opabehnam23?utm_source=govdelivery\">spoke<\/a> at length about \u201ca request for an amended order of registration as a derivatives clearing organization (DCO) by an entity seeking to offer non-inter<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>ted clearing of margined products to retail participants,\u201d which was transparently a reference to FTX US\u2019s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8499-22\">request<\/a>. <\/p>\n<p>\u201cAs other registered entities have expressed interest in exploring similar models, and given the potential impact on clearing members and FCMs [futures commission merchants]\u201d [\u2026] it is paramount to be transparent and provide an opportunity to hear from the public,\u201d Behnam said, plugging the CFTC roundtable on the subject coming up later this month. <\/p>\n<p>FTX CEO Sam Bankman-Fried may have been listening as Behnam spoke, as Bankman-Fried was present at the conference and participated in a fireside chat a few hours later. <\/p>\n<p>Behnam went on to recall his February Senate testimony and say that: <\/p>\n<blockquote><p>\u201cI will continue advocating for and supporting legislative authority for the CFTC to develop a regulatory framework for the cash digital asset commodity market.\u201d <\/p><\/blockquote>\n<p>Currently, the CFTC only regulates derivatives markets, although it has exerted enforcement authority over cash markets, such as the fine it imposed on Coinbase for improper reporting of exchange volume and \u201cself-trading\u201d in 2021.<\/p>\n<p><strong><em>Related story: Bipartisan bill to give CFTC authority over exchanges and stablecoins<\/em><\/strong><\/p>\n<p>Gensler <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/news\/speech\/gensler-remarks-swaps-and-derivatives-association-annual-meeting-051122\">spoke<\/a> about \u201cthe intersection of crypto assets with derivatives\u201d in his significantly shorter speech. He said:<\/p>\n<blockquote><p>\u201cIf platforms \u2014 whether in the decentralized or centralized finance space \u2014 offer security-based swaps, they are implicated by the securities laws and must work within our securities regime.\u201d <\/p><\/blockquote>\n<p>Gensler stressed the need for the ISDA \u201cto recognize that if the underlying asset is a security, the derivative must comply with securities regulations\u201d as it develops legal standards for crypto derivatives.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/chairmen-from-the-sec-and-cftc-talk-crypto-regulation-at-isda-meeting\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Chairmen from the SEC and CFTC talk crypto regulation at ISDA meeting &#8220; The annual meeting of the International Swaps and Derivatives Association (ISDA) began Wednesday in Madrid. United States Securities and Exchange Commission (SEC) chairman Gary Gensler and U.S. Commodity Futures Trading Commission (CFTC) chairman Rostin Behnam were both featured as keynote speakers&#8230;<\/p>\n","protected":false},"author":1,"featured_media":445495,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvZGQ4YzIwNWQtOTlhMC00YzNiLWFmN2YtMjVhNTViZjM5ZTM2LmpwZWc=.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75422,74898,73785,70934],"class_list":["post-445494","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cftc","tag-sec","tag-markets","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/445494","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=445494"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/445494\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/445495"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=445494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=445494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=445494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}