Top crypto tweets of the day – May 22nd

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• CFTC warns clearing organizations of risks associated with digital assets

  TL;DR Breakdown The CFTC has issued a staff advisory letter to derivatives clearing organizations (DCOs) regarding the risks of expanding activities, specifically focusing on digital assets. The advisory emphasizes the importance of proactive risk management and highlights concerns related to system safeguards, conflicts of interest, and physical deliveries. Commissioner Kristin Johnson calls for the CFTC to initiate a formal rule-making process to establish stricter regulations for crypto-commodity derivatives clearing models. The United States Commodity Futures Trading Commission (CFTC) has issued a staff advisory letter to registered derivatives clearing organizations (DCOs) and DCO applicants, cautioning them about the risks involved in expanding the scope of their activities. In particular, the letter highlighted the risks associated with digital assets, signaling the CFTC’s increased focus on the emerging crypto market. Increased interest in digital assets prompts CFTC advisory The advisory letter, released by the CFTC Division of Clearing and Risk (DCR), emphasized the importance of proactive risk management. The DCR urged DCOs and applicants to actively identify and mitigate new, evolving, or unique risks from their involvement with digital assets. This move comes…

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• Why central banks are struggling with wage growth

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• UK’s FCA reminds crypto firms of October marketing compliance deadline

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• Bank of America predicts a recession coming soon

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