CFTC Publishes Guide to Digital Currencies for Futures Dealers

US Commodity Futures Trading Commission (CFTC) released recommendations for futures intermediaries, where it is clarified, how to monitor the digital currencies of users in separate accounts.

According to the published press release of the department for supervision for intermediaries (DSIO), The new document was released for firms, authorized to mediation in urgent exchange operations. The leadership is explained, how to track and report certain digital assets, belonging to customers, In connection with physically delivered futures contracts or swaps.

CFTC noted, that the storage of customer assets in individual accounts can lead to large risks for other customers. The manual also contains recommendations for advanced methods, who should follow the futures intermediaries when developing and maintaining risk management programs as part of working with customer digital assets.

Recommendations do not apply to the storage of customer digital assets of foreign intermediaries in relation to trade futures or options for futures. CFTC Director Joshua Sterling (Joshua B. Sterling) stated, that the commission encourages innovations in the field of financial technology, Since it is working on the creation of a "integral structure for derivatives for digital assets".

Recall, that in the spring CFTC published the final guide for the "actual delivery" of digital assets, Having determined, when exactly the cryptoactive is considered transferred from one side to the other.

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