The big issue with crypto is americans and a lot of other people being pushed out. It's really not an opportunity I can afford to forgoe. I have to work within Frank and Dodd. If FATF and Murica force the Singapore and Dutch to super ban and KYC Derivative exchanges, I need to legally be able to qualify for leverage on Kraken. Honestly I need it anyways. So do most Americans. If you're a serious trader I think I have found an angle to consider. You want European exchanges, they are insured and regulated better than Americans and there's a better market for the international market in Europe. But I really want advice from any one in the legal know.
i think i have a couple options under frank and dodd - make a giant ass retirement account and distribute some after bitcoin hits 80 grand
Join a small partnership investment fund slash trading group with dual nationals or european slash whereever business partners to do startups, trading, icos, etc, banking to get past frank and dodd
The cheapest way to qualify for swaps is to run a investment fund of other peoples money with canadians (except quebec). But the majority investment can't be me or any us resident.
Second cheapest is a broker prop firm with 5 million commodity pool but the owners have to be non resident, with me being a consultant.
-(I) a broker or dealer subject to regulation under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) or a foreign person performing a similar role or function subject as such to foreign regulation, except that, if the broker or dealer or foreign person is a natural person or proprietorship, the broker or dealer or foreign person shall not be considered to be an eligible contract participant unless the broker or dealer or foreign person also meets the requirements of clause (v) or (xi);
(x) a floor broker or floor trader subject to regulation under this chapter in connection with any transaction that takes place on or through the facilities of a registered entity (other than an electronic trading facility with respect to a significant price discovery contract) or an exempt board of trade, or any affiliate thereof, on which such person regularly trades; or
(B)
(i) a person described in clause (i), (ii), (iv), (v), (viii), (ix), or (x) of subparagraph (A) or in subparagraph (C), acting as broker or performing an equivalent agency function on behalf of another person described in subparagraph (A) or (C); or
(ii) an investment adviser subject to regulation under the Investment Advisers Act of 1940 [15 U.S.C. 80b–1 et seq.], a commodity trading advisor subject to regulation under this chapter, a foreign person performing a similar role or function subject as such to foreign regulation, or a person described in clause (i), (ii), (iv), (v), (viii), (ix), or (x) of subparagraph (A) or in subparagraph (C), in any such case acting as investment manager or fiduciary (but excluding a person acting as broker or performing an equivalent agency function) for another person described in subparagraph (A) or (C) and who is authorized by such person to commit such person to the transaction; or
Topic: Becoming Eligible Contract Participant compliant (Read 92 times)
Jump to: