Acting Chair of the Commodity Futures Trading Commission: "All 24-hour derivatives trading proposals are based on virtual assets"

JH Kim

Summary

Acting CFTC Chair Caroline Pham stated that all 24-hour derivatives trading proposals were limited to virtual asset-based products.
She emphasized that 24-hour trading is important for both real-time response and risk management.
This discussion is considered an important turning point for the institutional development and potential expansion of the virtual asset-based derivatives market.

Caroline Pham, the acting chair of the Commodity Futures Trading Commission (CFTC) in the United States, commented on the 24-hour derivatives trading proposals, stating that these proposals were all limited to products based on virtual assets (cryptocurrencies).

According to Eleanor Terrett, host of Crypto in America, on the 6th (local time), acting chair Caroline Pham emphasized in a recent speech that "24-hour trading has the advantage of enabling real-time responses" and that "it can play an important role particularly in the aspect of risk management."

Previously, in April, the CFTC held a public hearing on a system allowing year-round, 24-hour trading of derivatives, gathering public input; this recent statement officially confirmed the content of the proposals submitted at that time.

This discussion is being evaluated as an important turning point for the future institutional development and possible expansion of the derivatives market based on virtual assets.