Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Today in crypto, Commodity Futures Trading Commission Chair Michael Selig put out prediction markets rulemaking for public comment, investors allege US banking giant JPMorgan helped facilitate fund flows in a $328 million crypto Ponzi scheme, and the US Securities and Exchange Commission (SEC) and CFTC signed a memo to regulate crypto and other emerging markets in harmony.
Michael Selig, chair of the US Commodity Futures Trading Commission (CFTC), has proposed a rule that could amend or issue new regulations over event contracts on prediction markets platforms like Kalshi and Polymarket.
In a Thursday notice, the CFTC issued a staff advisory classifying event contracts on prediction markets as a “financial asset class.” The regulator also submitted an Advanced Notice of Proposed Rulemaking to be published in the Federal Register, asking for public comment on how the Commodity Exchange Act (CEA) would apply to prediction markets.
