Comment Text:
My agreement sits firmly with Christy Romero. All risks need to be fully investigated, including and not limited to conflict of interest.
I am yet to see the CTFC work in favour of retail investors, and believe that information must be disclosed. Not a small part of a watered down version.
This all looks and feels far too close to what FTX were able to do in order to work around established laws and will only give other bad actors the ability to commit larger and more dangerous crimes. And the CTFC must know this.
Independent regulatory bodies should thoroughly assess the risks posed by conflicts of interest, flaws within the clearing systems, excessive market concentration, contagion risks, threats to financial stability, and other potential hazards. An essential aspect to consider is the erosion of market confidence due to perceptions of preferential treatment. The functioning of markets relies heavily on maintaining this confidence.
These sorts of proposals are hidden from a phenomenal percentage of retail investors and it is extremely clear to see why.
