CFTC Chair Selig Says Agency Is Preparing for On-Chain, 24/7 Markets
(9 days ago) · 1 source · Summarized by CryptoBipto
CFTC Chair Selig has stated that the U.S. Commodity Futures Trading Commission is preparing its regulatory framework for markets that operate around the clock on blockchain infrastructure. The remarks signal that the agency is actively considering how to oversee trading that occurs continuously on decentralized networks rather than during traditional market hours.
WHY IT MATTERS
In traditional finance, markets like the stock exchange have opening and closing times, and trades are processed through middlemen. Blockchain-based markets work differently — they can run nonstop, and transactions are recorded directly on a shared digital ledger (the "chain") without needing a central authority to process them. The CFTC is the U.S. government agency that oversees trading in commodities like oil and wheat, and it also has authority over some crypto-related products. Think of the CFTC as a referee for certain financial markets. When the referee says it is preparing for a new type of game that never stops and plays by different rules, it matters because the rules the referee sets will shape how these new markets are allowed to operate in the United States.
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