CFTC Reviews Crypto.com Super Bowl Contracts, Seeks Pause
(Bloomberg) — The Commodity Futures Trading Commission put Super Bowl and other sports-related derivatives contracts traded on Crypto.com’s exchange under review to determine whether they meet legal standards.
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The agency said in a statement Tuesday it asked the company to pause trading of the contracts, which were launched on Dec. 23, while it considers whether they violate prohibitions on gaming. The 90-day review could result in a decision to permanently ban trading of the contracts.
A Crypto.com spokesperson said the company rejected the CFTC’s request to suspend trading, and said it’s disappointing that the agency didn’t defer the matter to the incoming leadership of the new administration….
