United States:
NFA Sets Effective Date For Certain Virtual Currency Disclosure Requirements
17 August 2018
Cadwalader, Wickersham & Taft LLP
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The National Futures Association ("NFA") set October 31, 2018 as the effective date for
certain disclosure
requirements related to virtual currency activities.
In the Interpretive Notice issued in May, the NFA
advised futures commission merchants and introducing broker members
to supply the NFA Investor Advisory - Futures on Virtual
Currencies Including Bitcoin and the CFTC Customer Advisory: Understand the Risks of
Virtual Currency Trading to any customer involved in a virtual
currency derivative transaction. Additionally, the NFA requires CPO
and CTA members to provide investors with "robust
disclosures" related to spot and derivatives market virtual
currencies, as described in
previous coverage.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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