SBF: Supports Knowledge Tests for Retail Derivatives Traders

FTX CEO SBF said he 100% agrees with mandating disclosures and knowledge tests for all Future Commissions Merchants (FCM) and Designated Contract Markets (DCM) who face retail traders, adding it could make sense. He added however that it doesn’t necessarily make sense for the disclosures and tests to be specific to cryptocurrencies, suggesting these should apply to all derivative products. DCMs are CFTC-regulated derivate exchanges on which products such as options or futures are offered which can only be accessed through an FCM, which accepts or solicits buy and sell orders on futures or futures options contracts from customers.

Source

FTX

SBF

In This Article

Related News
Chinese creditors push back against FTX's motion to forfeit payouts in restricted jurisdictions Chinese creditors push back against FTX's motion to forfeit payouts in restricted jurisdictions
Backpack acquires FTX EU, Bitcoin and Ethereum ETFs clock over $1 billion worth of inflows and more Backpack acquires FTX EU, Bitcoin and Ethereum ETFs clock over $1 billion worth of inflows and more
FTX Plans to Give 98% of its Creditors up to 118% of Allowed Claims FTX Plans to Give 98% of its Creditors up to 118% of Allowed Claims
FTX Aims to Begin to Repay Customers by the End of 2024 FTX Aims to Begin to Repay Customers by the End of 2024
Sam Bankman-Fried Sentenced 25 Years in Prison Sam Bankman-Fried Sentenced 25 Years in Prison
Latest News More More
3 Days Ago TON Foundation offers path to 10-year UAE 'Golden Visa' for $100k in staked TON, $35k fee; UAE denies eligibility
6 Days Ago Tether plans further Bitcoin mining expansion in South America with Adecoagro tie up
July 3 North Korean hackers use fake Zoom updates to deliver ‘NimDoor’ macOS malware targeting crypto firms
July 3 JPMorgan's blockchain unit tests new carbon credit tokenization application with S&P Global
June 30 Ethereum community plans onchain ‘time capsule’ to mark 10th anniversary of network’s genesis block
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open