The US Commodity Futures Trading Commission is working with an industry self-regulator to strengthen disclosure requirements for traders of Bitcoin and other virtual currency derivatives as well as for spot cryptocurrency traders.
The National Futures Association will consider this month whether to propose guidance to market participants on risk disclosures to be made to customers about trading virtual currency products, CFTC member Rostin Behnam said.
The CFTC has already brought fraud cases related to the sale of virtual currencies.
Behnam, who heads a CFTC cryptocurrency advisory panel, said industry risk disclosures would have to be included under the proposal in promotional materials, disclosure documents and other offering materials.
CFTC seeking to strengthen Bitcoin derivatives disclosure, Behnam says
14 May 2018 7:45pm