Commodity Futures Trading Commission

But I just I don't think they'll be able to pass much to begin with.

And they certainly won't be able to pass anything that restricts Trump or his children to So Clarity probably stalls, but you have two years to get rulemaking through SEC and CFTC.

I expect that'll continue.

So they'll have the rulemaking at least on tokenized securities and definition of whether or not a token is a security versus a commodity.

Yeah, I just think you have to hope that our cybersecurity systems evolve to capture that.

Humans will always make those mistakes.

So in other news, CFTC Chairman Mike Selig announced this week that perpetual futures on individual stocks can now trade on registered US exchanges.

Within a couple of hours of announcing this, a group called the Capital Markets Alliance, it's backed by SIBO and Citadel, sued to block the approval, arguing that the contracts are swaps and they belong under the SEC.

Predictions is predictions.

They might be looking at it as being too regulatory, fractious at the moment, you know, with the disputes between the CFTC and the States and the US, various regulators in Europe not particularly keen on the idea.

So, yeah, I think, again, they just want to keep it simple.

And they did also, I think they've also said on the prediction markets matter that, A lot of the markets they are interested in, regulators there have made it quite clear that they're not interested in prediction markets, they would see it as just another effective form of gambling.

Prediction markets are very, you know, are just dependent on data.

That's the whole purpose of it, you know, and... as where the controversy comes from, I do obviously share a lot of similarities with sportsbooks, similar markets and so on.

But as long as that is a regulated space in the US with backing from CFTC, as you mentioned, the US is Sportradar's biggest market, there's going to be demand for their data among those companies.

So I think that's...

Prediction markets and their involvement in sports gambling is really controversial.

And that's basically the CFTC, the Commodity Futures Trading Commission, changing the way it looks at it.

In the Securities and Exchange Commission, we have in SEC, we have this make IPOs great again agenda.

I think that's what they call it, but basically making more companies go public.

I'm sure there's some sort of bullshit they

can do with the CFTC or something where they make it like, oh no, it's a contract amongst peers.

I thought you just did that out of the goodness of your heart to teach the youth of America some lessons that they needed to learn.

Well, maybe this would humble them, and they would go get a job, Pete, and do something real with their lives.

Now, shifting our focus to regulatory news, welcome to BlockTalk AI, Laws and Regulations.

Today we focus on a new development from the U.S. Commodity Futures Trading Commission, or CFTC, which has issued guidance regarding trust companies in the crypto market.

Topher, what can you tell us about this announcement?

The CFTC's statement this week highlights the potential for trust companies to play a crucial role in daily settlements within crypto-related markets.

This move is seen as a step towards enhancing the integrity and reliability of settlement operations.

Trust companies are being positioned as key players in this process but they must adhere to existing regulatory and compliance standards.

How might this guidance impact the crypto sector, particularly in terms of settlement workflows and regulatory standards?

The guidance could lead to substantial changes in how settlements are conducted, affecting workflows and custodial arrangements.

It's really a dog and pony show.

I mean, look at like the SEC, CFTC.

Oh, we fine Goldman Sachs $200 million, the biggest...

How much did you make? A trillion? A billion? Okay, give us our cut, 20%.

So now

what do you think happens here over the next, we'll say two to six months? Um, Or maybe we'll say even the next two years, do we just get like a crazy bull market after the Dems get in and just start taking Trump to court for all of his crypto crimes that he's been doing as well as investigating everyone else? The Jeffrey Epstein stuff, does that even matter? But we still have the CFTC and the SEC who are on the crypto side.

The AI CapEx expenditure is expected to decrease now that of the AI data center build outs.

There was there was it was on the ballot of 41 or 42 states for a moratorium only passed I think it was North Dakota was the only state that's like, bring the AI data centers here.

The leagues are now sharing notes with the regulator.

The NBA and the CFTC signed an information sharing agreement on prediction market integrity.

MLB and NHL already had one.

The house and the referee are finally on the same page.