CFTC to Discuss Blockchain Tech During Public Hearing

UPDATE 2 (9th February 16:20 BST): The CFTC has announced that its Technology Advisory Committee will meet on 23rd February to discuss blockchain technology.

The US Commodity Futures Trading Commission (CFTC) will discuss the application of blockchain technology in derivatives markets during a meeting of its Technology Advisory Committee later this month.

According to a notice published today, the hearing will take place on 26th January at the agency’s Washington, DC headquarters. The meeting is open to the public.

The notice states:

"The TAC will discuss: (1) the Commission's proposed Regulation Automated Trading ("Reg AT"); (2) swap data standardization and harmonization; and (3) blockchain and the potential application of distributed ledger technology to the derivatives market."

The agency said that it any written statements submitted to the committee will be published later on the CFTC website.

The hearing comes months after the CFTC declared its intent to regulate bitcoin and other digital currencies as commodities.

That decision was tied to an enforcement action against a bitcoin options trading platform. The agency settled charges later that month with bitcoin swap execution facility TeraExchange over alleged violations of the Commodity Exchange Act.

Image via Wikimediahttps://upload.wikimedia.org/wikipedia/commons/thumb/a/a9/US-CFTC-Seal.svg/2000px-US-CFTC-Seal.svg.png