The National Futures Association of the United States will implement regulations related to digital asset commodities, effective May 31, 2023

ChainCatcher News, the National Futures Association (NFA) recently approved NFA Compliance Rule 2-51, which imposes anti-fraud, fair and equitable trading principles, and regulatory requirements on NFA members and associate members engaged in digital asset commodity activities. The rule currently applies only to Bitcoin and Ether and will take effect on May 31, 2023. Existing obligations for members also include adhering to disclosure requirements for participating in virtual currency activities.

Currently, over 100 NFA members have reported to the NFA that they are engaged in business activities related to digital assets, including commodity interests and spot markets.

The National Futures Association is a self-regulatory organization for the futures industry established in 1976 under Section 17 of the U.S. Commodity Exchange Act and officially began operations in 1982. In recent years, the NFA has been committed to developing innovative, technology-driven regulatory processes to enable its members to meet their legal obligations at lower costs and with greater efficiency. (Source link)