{"id":79675,"date":"2023-06-02T17:59:01","date_gmt":"2023-06-02T14:59:01","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=79675"},"modified":"2025-09-11T12:22:52","modified_gmt":"2025-09-11T09:22:52","slug":"cftc-to-update-rules-to-address-ai-and-cryptocurrency-risks","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/cftc-to-update-rules-to-address-ai-and-cryptocurrency-risks\/","title":{"rendered":"CFTC to update rules to address AI and cryptocurrency risks"},"content":{"rendered":"<p><span data-descr=\"U.S. Commodity Futures Trading Commission\" class=\"old_tooltip\">CFTC<\/span> published a proposal to revise its risk management rules to account for threats from \u201cdeveloping technologies\u201d such as cryptocurrencies and artificial intelligence (AI).<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">The CFTC is seeking public comment on the Risk Management Program (RMP) requirements for swap dealers and futures commission merchants. Learn more: <a href=\"https:\/\/t.co\/Vs1rb9qfey\">https:\/\/t.co\/Vs1rb9qfey<\/a><\/p>\n<p>\u2014 CFTC (@CFTC) <a href=\"https:\/\/twitter.com\/CFTC\/status\/1664399653805203459?ref_src=twsrc%5Etfw\">June 1, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The rules apply to swap dealers and futures commission merchants.<\/p>\n<p>The agency will accept public comments over the next 60 days. It will then develop a formally proposed set of rules. The final version of the rules will go through a vote for approval.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Some markets have begun to implement distributed ledger technology or study its applications. Cloud data storage and computing have become widespread, and AI&#8217;s potential is increasingly recognised. Alongside these advances, inherent risks arise that must be mitigated and effectively managed,&#8221;<\/em> \u2014<a href=\"https:\/\/www.cftc.gov\/PressRoom\/SpeechesTestimony\/romerostatement060123\">commented<\/a> Commissioner Kristin Goldsmith Romero.<\/p>\n<\/blockquote>\n<p>The official separately highlighted risks related to digital asset markets, citing the shutdown of banks <a href=\"https:\/\/u1f987.com\/en\/news\/silvergate-to-liquidate-silvergate-bank\">Silvergate<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/us-rescue-saves-svb-and-signature-bank-depositors-stablecoins-narrow-the-depegging\">Signature<\/a>.<\/p>\n<p>Romero said that problems could also arise in regulated trading of crypto derivatives. Unregulated spot markets pose additional threats, as evidenced by <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\">FTX<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/terras-death-spiral-how-and-why-luna-and-ust-collapsed\">Terra<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/celsius-files-for-bankruptcy-protection\">Celsius<\/a> and others, she added.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;This adds to the operational risks and threats related to fraud and illicit financing in certain segments of digital asset markets,&#8221;<\/em> \u2014 she emphasised.<\/p>\n<\/blockquote>\n<p>Another area of close regulatory focus is the custody of cryptocurrencies.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Brokers may consider holding client property in the form of <em>stablecoins<\/em> or other digital assets, which could give rise to unknown and unique risks. These infrastructure players may face third-party custodial risks,&#8221;<\/em> \u2014 she emphasised.<\/p>\n<\/blockquote>\n<p>Earlier, CFTC Chairman Rostin Behnam said that <a href=\"https:\/\/u1f987.com\/en\/news\/cftc-chair-calls-for-mandatory-regulation-of-dex\">decentralized exchanges will be regulated<\/a> by his agency or <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span>, even if platforms operate autonomously or with minimal human involvement.<\/p>\n<p>Earlier the official warned crypto industry participants about the <a href=\"https:\/\/u1f987.com\/en\/news\/cftc-chair-warns-that-crypto-regulation-is-inevitable\">inevitability of regulation<\/a>.<\/p>\n<p>In March 2023, the CFTC <a href=\"https:\/\/u1f987.com\/en\/news\/cftc-files-suit-against-binance-and-changpeng-zhao\">filed suit<\/a> against the Binance exchange and its CEO Changpeng Zhao. The agency said the platform violated derivatives trading rules by operating without the proper registration.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CFTC published a proposal to revise its risk management rules in light of threats from developing technologies such as cryptocurrencies and artificial intelligence (AI).<\/p>\n","protected":false},"author":1,"featured_media":79676,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[438,879,1269,36],"class_list":["post-79675","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-artificial-intelligence","tag-cftc","tag-cryptocurrencies","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/79675","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=79675"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/79675\/revisions"}],"predecessor-version":[{"id":79677,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/79675\/revisions\/79677"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/79676"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=79675"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=79675"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=79675"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}