Tag: self regulation

self regulation

CFTC Welcomes Formation of Crypto Association

CFTC Commissioner Brian Quintenz has welcomed the formation of an industry trade association for cryptocurrency traders.
The Virtual Commodity Association (VCA) has formed a working group and will hold its inaugural meeting in September. It says the meeting will consider guidelines for membership as well as for best practices and rules-based marketplaces that will promote fairness, transparency, risk management, and liquidity.
It will further discuss best practice guidelines that will address member conflicts of interest, client communications, client disclosures, and record keeping; as well as the staffing needs of the association, including an executive director and compositon of the board of directors.

And Another Thing…

Monday’s column touched a nerve with its criticism of market makers that quote ridiculously large spreads. Of course, we should also question the quality of controls at a participant that allows someone (or something) to hit a big 35 big figures below the last price.
Going back to market makers though, perhaps we need, using the execution quality analytics now available, to start naming and shaming the worst offenders? I personally have no problem with this and I think I would have quite a bit of support.