The CFTC is cooking. Mike Selig says, “Under my leadership, the Commission will take every necessary step to establish regulations that are designed to prevent, rather than only prosecute after the fact, fraudulent schemes such as FTX.” “(i) prevent abusive practices in crypto asset markets and CTXs under a uniform national regime (ii) provide market participants with crypto asset-specific contextual information concerning certain requirements and practices that are commonly accepted in the industry and have been found, based on the Commission’s experience in overseeing aspects of crypto asset markets since 2014, to represent industry best practices for compliance with the regulatory requirements that attach to CTXs (iii) codify through rulemaking a subcategory of designated contract market registration, known as a crypto asset market, that is purpose-built specifically for CTXs.” This is huge. The entire world will follow USA and move to cement this industry as the future of global capital markets. Be more bullish.