CFTC Chair Says Only Federally Regulated Platforms Can Offer Leverage Trading
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CFTC Chair Michael Selig stated that under the proposed rules, only federally regulated cryptocurrency trading platforms will be allowed to offer leverage trading. States can only provide money transmission services, and 100x leverage has never been permitted in the U.S., and this time will be no exception. The U.S. Commodity Futures Trading Commission previously proposed two new rules aimed at establishing a regulatory framework for cryptocurrency in the U.S. based on its authority to regulate leverage and margin trading.
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