Download PDF Matthew Kluchenek† I. Introduction Among all the U.S. regulators interested in regulating Bitcoin and virtual currencies, the Commodity Futures Trading Commission (CFTC) is determined to be at the forefront. Since the announcement by CFTC … [Read more...] about Bitcoin and Virtual Currencies: Welcome to Your Regulator
Download PDF John Crawford* and Tim Karpoff** A notably bitter battle over financial reform in the wake of the crisis of 2008 has centered on a mandate that federally insured depository institutions—i.e., banks—refrain from entering into certain derivatives contracts. … [Read more...] about The Swaps Pushout Rule: Much Ado About the Wrong Thing?
Download PDF Kimberly Summe* Derivatives, understood by few but disparaged by many, are often blamed for the collapse of the United States economy in the wake of Lehman Brothers’ bankruptcy in September 2008. A legislative response to the crisis was inescapable and on … [Read more...] about An Evaluation Of The U.S. Regulatory Response to Systemic Risk and Failure Posed by Derivatives
Download PDF James Schwartz* The derivatives market was seen as having contributed substantially to the financial crisis of 2007–08. This led to efforts to regulate derivatives in many of the countries in which their use was commonplace. Historically, the swaps market … [Read more...] about The CFTC’s Cross-Border Guidance for Swaps and Substituted Compliance Regime
Download PDF Colleen Baker* I. Introduction Trade—whether domestic or international and whether of goods, services, or financial assets—relies upon the exchange of money. The integrity of these “money flows” is critical to the smooth conduct of international exchange. … [Read more...] about The Federal Reserve’s Supporting Role Behind Dodd-Frank’s Clearinghouse Reforms