SEC/CFTC Won't Allow SOL Futures to Be Listed as a Commodities Contract

IconCryptoNewsTerminal Staff29 May, 2024

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SEC/CFTC Won't Allow SOL Futures to Be Listed as a Commodities Contract

Bloomberg ETF analyst James Seyffart announced on Twitter that the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) will not permit solana (SOL) futures to be listed as a commodities contract. This decision suggests that regulators are taking a cautious approach to approving cryptocurrency-based futures products. The SEC and CFTC have not yet formally announced their decision, but Seyffart's sources indicate that the agencies are concerned about the potential for market manipulation and investor protection issues associated with SOL futures. Solana has been under scrutiny recently due to its involvement in the FTX collapse. The SEC and CFTC's decision is likely to be seen as a setback for the cryptocurrency industry, which has been hoping for greater regulatory clarity. However, it also sends a message that regulators are taking a proactive approach to protecting investors in the rapidly evolving digital asset market.

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