Part 48 refers to a specific section of regulations issued by the Commodity Futures Trading Commission (CFTC) in the United States. These rules outline requirements for swap data recordkeeping and reporting by swap execution facilities and designated contract markets. In the context of digital assets, discussions arise regarding whether certain cryptocurrencies or their derivatives fall under the CFTC’s jurisdiction and thus require adherence to these reporting standards. Compliance with Part 48 ensures transparency and oversight in relevant derivatives markets.
Context
Crypto news often mentions Part 48 when discussing the regulatory classification of digital assets and their derivatives by US authorities. Debates frequently center on the jurisdictional boundaries between the CFTC and the SEC regarding various crypto products. A critical future development involves clearer guidance from regulators on which digital asset products are subject to Part 48 reporting obligations.
Non-US digital asset exchanges must register as Foreign Boards of Trade to provide direct market access to US participants, reinforcing jurisdictional oversight.
The CFTC's advisory mandates Part 48 FBOT registration for all non-US digital asset exchanges serving US participants, solidifying jurisdictional clarity.
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