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<ul class="wp-block-list news-points"> 
 <li>Coinbase releases its response to the CFTC’s Notice of Proposed Rulemaking.</li> 
 <li>The platform urges the commission to withdraw the proposal, citing concerns about its content and analytical approach.</li> 
 <li>Paul Grewal points out the inconsistencies in the CFTC’s definition of gaming.</li> 
</ul> 
Coinbase, a major cryptocurrency exchange in the United States, <a href="https://assets.ctfassets.net/c5bd0wqjc7v0/3VBBjJzqNCvm1h0j7FyNqF/032dded059cf6532f2d51837a054bad6/2024.08.08._CFTC_Event_Contracts__RIN_3038_AF14_.docx.pdf" target="_blank" rel="nofollow">has responded</a> to the Commodity Futures Trading Commission’s (CFTC) Notice of Proposed Rulemaking issued in May 2024. The company has called on regulators to withdraw the proposal, citing major concerns about its content and analytical approach. 
Providing key insights on Coinbase’s letter dated August 8, 2024, Chief Legal Officer Paul Grewal shared a series of threads on the X platform. As a critical and primary concern, Grewal pointed out the inconsistencies in the definition of “gaming” in CFTC’s proposal. While CFTC included contracts like Nobel Prizes and Oscars in their narrative, Grewal proclaimed that they are by no means gaming. 
Chief Legal Officer Paul Grewal shared insights into Coinbase’s August 8, 2024 letter on X (formerly Twitter). A key concern highlighted was the inconsistency in the CFTC’s definit…
The post <a href="https://coinedition.com/coinbase-pushes-back-on-cftcs-prediction-market-ban/">Coinbase Pushes Back on CFTC’s Prediction Market Ban</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Coinbase Pushes Back on CFTC’s Prediction Market Ban

Coin Edition

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