Subject to certain exceptions, the Commodity Exchange Act (CEA) makes it unlawful to enter into a transaction in any commodity with someone who meets the CEA’s definition of a “retail customer.” Nevertheless, many cryptocurrency platforms currently serve retail customers, relying on the CEA’s “actual delivery exemption.” But what does “actual delivery” really mean in the cryptocurrency context?
The U.S. Commodity Futures Trading Commission (CFTC) issued a proposed interpretation of “actual delivery” in the cryptocurrency retail commodity transaction context. Learn the contents of that proposed legislation, why it matters to the cryptocurrency industry and the questions that arguably remain unexplored. Read Morrison & Foerster’s blockchain and capital markets experts’ article in Crowdfund Insider.