Stablecoins have emerged as one of the most transformative innovations in the cryptocurrency space, bridging the gap between the volatility of traditional cryptocurrencies like Bitcoin and the stability demanded by mainstream financial systems. This rise has brought with it a wave of innovation, and nowhere is this more apparent than
stablecoin
The Outsized Impact of Blockchain on Finance
By Jeffrey Neuburger & Jonathan Mollod on
Advances in blockchain distributed ledger technology have led to dramatic growth in the role of digital assets in finance. This has resulted in new applications and technological developments involving financial services and blockchain.
Read the full article at Financier Worldwide.
CFTC Issues Cease and Desist Order to Binary Options Operator Using Smart Contracts
By Elanit Snow on
On January 3, 2022, the Commodity Futures Trading Commission (the “CFTC”) entered an order charging Blockratize, Inc. (d/b/a Polymarket.com) (“Polymarket”) with offering off-exchange binary options contracts and failing to register with the CFTC as a designated contract market or swap execution facility as required under the Commodity Exchange Act (the “CEA”). (In re Blockratize, Inc. d/b/a Polymarket.com, CFTC Docket No. 22-09 (Order Jan. 3, 2022)). The CFTC ordered Polymarket to cease and desist all such unregistered market making activities and issued a $1.4 million fine (which the order noted was reduced in light of Polymarket’s “substantial cooperation” with the investigation).