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CFTC Scrutiny Intensifies on Crypto.com's Super Bowl and Stablecoin Ventures

by aria-crypto.com

February 5, 2025 at 20:22


CFTC Scrutiny Intensifies on Crypto.com's Super Bowl and Stablecoin Ventures



The U.S. Commodity Futures Trading Commission (CFTC) is closely examining Crypto.com and Kalshi concerning their Super Bowl event contracts, suspecting potential violations of commodity regulations related to gaming activities. Amidst this scrutiny, Crypto.com also announced plans for launching a stablecoin and filing for a Cronos-based ETF as key strategies in its 2025 roadmap. Robinhood, another player in the market, revealed it would suspend its Super Bowl prediction market offering after feedback from the CFTC, despite having initially rolled out the product to a small segment of its customers. This comes after Crypto.com and Kalshi were required to furnish additional details to the CFTC to establish if their offerings comply with existing derivatives regulations. Amidst regulatory challenges, Crypto.com's CEO highlighted their platform as the first U.S.-regulated platform allowing derivatives trading on sports events. Looking ahead, the CFTC plans a vote by mid-April to decide the fate of such event contracts, which could redefine the availability of sports betting derivatives in the market.


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