CFTC staff will not seek penalties over trust-company settlement
BROBROK News · Based on reporting by DiarioBitcoin ·
The CFTC’s Division of Clearing and Risk said it will not recommend enforcement action against derivatives clearing organizations that use trust companies for daily settlement, as long as they are treated as settlement banks under Regulation 39.14. The guidance followed a request from Nodal Clear and applies broadly to eligible clearinghouses.
Key points
- The staff letter 26-30 was issued on Nov. 5.
- It reflects the division’s view and does not bind the full Commission.
- Regulation 39.14 defines a settlement bank as a bank and does not mention trust companies.
- The clarification could support crypto firms with federal trust charters.
- Community banks are separately challenging those charters in court.
Why it matters
The letter removes a regulatory obstacle for some clearing venues considering trust companies in daily settlement workflows. It also highlights the broader fight over how far federal trust powers for crypto firms should extend.
Original headline: “Personal de la CFTC no recomendará sanciones por liquidar derivados con fiduciarias”
Read the original on DiarioBitcoin
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