🚀 SEC Explores Blockchain-Based Stock Trading Amid Industry Opposition
#SEC #Blockchain #StockTrading #Finance #Cryptocurrency #MarketInfrastructure #Clearing #Settlement #CitadelSecurities
According to PANews, the U.S. Securities and Exchange Commission (SEC) is advancing a proposal to enable stock trading on blockchain platforms, akin to cryptocurrency transactions. This initiative has reportedly faced significant opposition from traditional financial entities, including Citadel Securities. SEC staff are currently engaging with industry stakeholders to refine the proposal's details and compliance pathways. However, the specific rules and timeline for implementation have not yet been disclosed. This effort could potentially transform market infrastructure and the clearing and settlement processes.#SEC #Blockchain #StockTrading #Finance #Cryptocurrency #MarketInfrastructure #Clearing #Settlement #CitadelSecurities
🚀 Phantom Receives No-Action Relief from CFTC for Derivatives Interface
#Phantom #CFTC #noactionrelief #derivatives #wallet #introducingbroker #futuresintermediaries #DeFi #tokenizedpredictionmarkets #marketparticipants #custody #clearing
Phantom has been granted no-action relief by the Commodity Futures Trading Commission's (CFTC) Market Participants Division as of March 17. According to NS3.AI, this decision allows Phantom's wallet to interact with Commission-regulated derivatives without the need to register as an introducing broker. However, registered futures intermediaries and markets are required to maintain customer relationships, custody, and clearing functions. The relief is at the staff level and may be subject to modification or termination. Phantom clarified that the relief does not extend to decentralized finance (DeFi) derivatives or tokenized prediction markets.#Phantom #CFTC #noactionrelief #derivatives #wallet #introducingbroker #futuresintermediaries #DeFi #tokenizedpredictionmarkets #marketparticipants #custody #clearing