In a detailed response to the U.S. Commodity Futures Trading Commission (CFTC), Coinbase voiced significant objections to the commission’s proposed ban on specific types of prediction markets. The crypto exchange argues that the proposed amendments overreach the CFTC’s statutory authority. Moreover, it noted that this proposal fails to recognize the value of prediction markets.
Coinbase Challenges CFTC’s Action On Betting Markets
Coinbase’s Chief Legal Officer, Paul Grewal, asserted that the proposal fundamentally disrupts established regulatory practices. Furthermore, Grewal’s letter to the CFTC critiques the proposal’s broad and ambiguous definition of “gaming.” He believes that this could result in a sweeping ban on prediction markets.
“The Commission has failed to recognize the positive impact of prediction markets on the economy,” Grewal stated. He also emphasized that the ban would stifle innovation and growth in regulated markets. In addition, the CFTC’s pr
We współpracy z: https://coingape.com/coinbase-challenges-cftc-proposed-ban-on-prediction-markets/
