CFTC chair Massad said he is working with Europe to tackle regulatory issues
Commodity and Futures Exchange Commission chair Tim Massad
has issued his strongest worded statement on a regulatory
impasse that has emerged between the US and Europe by calling
on Europe to recognise US clearing houses.
Addressing the Global Markets Advisory Committee meeting on
Thursday to discuss the possibility of mandating clearing for
non-deliverable forwards and US policy on virtual currency
bitcoin, Massad showed frustration that Europe had not granted
access to US clearing firms.
"Europe has not yet recognized our clearing houses as
equivalent. I believe they should because our clearing houses
meet international standards. They believe we should change our
regulatory approach to clearing houses that are located in
Europe but are also registered with the US."
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