CFTC Request for Information about Crypto-Asset Mechanics and Markets

The CFTC has posed 25 questions under five categories to better understand Crypto Currencies and Markets.

Please submit your comments before February 15, 2019.
You may submit comments, identified by the title, ‘‘Virtual Currency RFI,’’ by any of the following methods:

• CFTC website: https://comments.cftc.gov. Follow the instructions to Submit Comments through the website.
• Mail: Send to Christopher Kirkpatrick, Secretary of the Commission, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581.
• Hand Delivery/Courier: Same as Mail, above.

Topics with example questions

1. Purpose and Functionality
   What was the impetus for developing Ether and the Ethereum Network, especially relative to Bitcoin?
2. Technology
   How is the technology underlying Ethereum similar to and different from the technology underlying Bitcoin?
3. Governance
   How is the governance of the Ethereum Network similar to and different from the governance of the Bitcoin network?
4. Markets Oversight and Regulation
   How would the introduction of derivative contracts on Ether potentially change or modify the incentive structures that underlie a proof of stake consensus model?
5. Cyber Security and Custody
   Are there any best practices for conducting an independent audit of Ether deposits?

Further questions and information may be found at this URL.

https://www.cftc.gov/sites/default/files/2018-12/2018-27167a.pdf?utm_source=govdelivery

LabCFTC released a new Primer on Smart Contracts

LabCFTC is the focal point for the CFTC’s efforts to promote responsible financial technology (FinTech) innovation and fair competition for the benefit of the American public. LabCFTC is the hub for the agency’s engagement with the FinTech innovation community.

LabCFTC has two important goals:

• To promote responsible FinTech innovation to improve the quality, resiliency, and competitiveness of our markets.
• To accelerate CFTC engagement with FinTech and RegTech solutions that may enable the CFTC to carry out its mission responsibilities more effectively and efficiently.

The Core LabCFTC Components are GuidePoint and CFTC 2.0.

GuidePoint facilitates FinTech innovation development with the CFTC, helps innovators understand the CFTC's regulatory framework (RegTech), and shares feedback about new innovative technology.

CFTC 2.0 promotes adoption of new technology through use cases and other models.

FinTech Primers: virtual currencies and smart contracts

The first primer, about virtual currencies, may be accessed here.

To read a copy of the most recent primer on smart contracts, click here.

Innovators who are working on a technology that may be regulated or supervised by the CFTC may contact LabCFTC@CFTC.gov for further exploration.

Dodd-Frank Act Information

If you have ever had to research the Dodd-Frank Act, you know that it can take some time determining where to begin your journey.

Here are four useful resources that are not behind a paywall, so you don't need credentials to access the information.

Law Librarians' Society of Washington, D.C.
http://www.llsdc.org/dodd-frank-legislative-history
This resource was last updated July 29, 2015 and provides links to bill versions and hearings.

U.S. Commodities Futures Trading Commission
http://www.cftc.gov/LawRegulation/DoddFrankAct/index.htm
This resource is organized within a drop down menu from the Dodd-Frank Act, and a page with topics such as Rule-Writing Process and External Meetings, to name just two. For current and historic documents organized in one place.

Federal Reserve Bank of St. Louis
https://www.stlouisfed.org/federal-banking-regulations/
Search 'Dodd-Frank' in the search window for all banking regulations that relate to Dodd-Frank.

Securities and Exchange Commission
https://www.sec.gov/spotlight/dodd-frank.shtml
'Implementing the Dodd-Frank Wall Street Reform and Consumer Protection Act' is organized into four categories: Mandatory Rule Making Provisions; Public Comments; New Offices; and Reports & Studies.