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đ±FBOT Framework Wonât Bring Offshore Exchanges Back to U.S. âïž
The CFTCâs new advisory on offshore crypto exchanges under the Foreign Board of Trade (FBOT) framework is unlikely to lure them back to U.S. markets.
đč Eli Cohen (Centrifuge GC) says FBOT rules â built for traditional finance â impose settlement, clearing & compliance requirements that crypto exchanges canât realistically meet.
đč Only highly regulated entities like Licensed Futures Commission Merchants (FCMs) can apply, leaving most offshore platforms excluded.
đ Bottom line: Legacy rules donât fit crypto, and adoption under FBOT remains unlikely.
#CFTC #CryptoRegulation #FBOT #Exchanges #CryptoLaw
The CFTCâs new advisory on offshore crypto exchanges under the Foreign Board of Trade (FBOT) framework is unlikely to lure them back to U.S. markets.
đč Eli Cohen (Centrifuge GC) says FBOT rules â built for traditional finance â impose settlement, clearing & compliance requirements that crypto exchanges canât realistically meet.
đč Only highly regulated entities like Licensed Futures Commission Merchants (FCMs) can apply, leaving most offshore platforms excluded.
đ Bottom line: Legacy rules donât fit crypto, and adoption under FBOT remains unlikely.
#CFTC #CryptoRegulation #FBOT #Exchanges #CryptoLaw
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