Cryptocft

The US Commodity Futures Trading Commission has rescinded a long-standing policy that required defendants settling enforcement actions to refrain from publicly denying the agency’s allegations.

US Commodity Futures Trading Commission Chair Michael Selig said the agency is seeking to reverse a previously settled enforcement action against cryptocurrency exchange Gemini, claiming the company was politically targeted under the Biden administration.

Bob Diamond, founding partner and CEO of Atlas Merchant Capital, discusses the emerging trend of tokenized real-world assets. Speaking with Bloomberg's Caroline Hyde on "Bloomberg Markets," Diamond also comments on the recent UK political turmoil, the outlook for Middle East markets and the Senate Banking Committee advancing the so-called Clarity Act that would establish the CFTC as the primary regulator for large parts of the crypto industry.

Michael Selig, chairman of the Commodity Futures Trading Commission, says political contracts on federally regulated exchanges should be tied to specific events and not open-ended. The risk is that these bets could become an ``assassination market,'' he tells Bloomberg's Tim Stenovec in Boca Raton, Florida.