Senate Agriculture Committee Presses CFTC For Information On Cryptocurrency Futures

In a letter to CFTC Chair J. Christopher Giancarlo, U.S. Senate Committee on Agriculture, Nutrition and Forestry Chair Pat Roberts (R-KS) and Ranking Member Debbie Stabenow (D-MI) requested information on oversight of cryptocurrency futures and options.

In connection with recent launches of bitcoin futures trading on three exchanges, the Senators asked the following questions:

• how the CFTC has carried out surveillance activities to ensure that risks are appropriately addressed;
• if safeguards for investor protections agreed on by the exchanges, such as increased margin requirements, have been effective, and if the CFTC anticipates adjusting the safeguards;
• to what degree CFTC oversight capabilities are constrained by resource limitations, and how resources could be used to improve oversight;