WASHINGTON — American CryptoFed is a new kind of company spawned by the advent of cryptocurrency — one that claims, in a way, not to be a company at all. There are no owners, officers or employees, according to its stated plan. Instead, American CryptoFed is a “decentralized autonomous organization” […]

Introduction and summary When Congress enacted the Commodity Futures Modernization Act in December 2000, it exempted a novel financial product—financial derivatives contracts—from “[o]utdated statutes.”1 With the goals of “promoting financial innovation” and bringing derivatives regulations “into the new century,” Congress declared that the law “modernizes the regulatory structure of the […]