Making Sense of Eligibility for Contract Participants

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#1Aug 4, 2024, 10:29 PM
So here's the deal with crypto: a lot of folks, especially Americans, are getting squeezed out of the market. Honestly, I can't let that happen to me. I need to find a way to work within the Frank-Dodd regulations. If FATF and the U.S. government are gonna pressure places like Singapore and the Netherlands to clamp down on KYC for derivative exchanges, I gotta make sure I can still qualify for leverage on Kraken. I really need it to trade effectively, and I know a lot of other Americans do too. For any serious traders out there, I might have stumbled upon something worth thinking about. European exchanges could be the way to go. They tend to be better regulated and insured than U.S. ones, plus there's a more active international market over there. But I’d love to hear from anyone who knows the legal ins and outs. I’m considering a couple of options under Frank-Dodd: 1) set up a massive retirement account and then distribute funds after Bitcoin hits 80k, or 2) join a small investment partnership or trading group with dual nationals or European partners to get around Frank-Dodd with startups, trading, ICOs, etc. The most affordable way to qualify for swaps is to manage an investment fund with money from Canadians (except Quebec). The catch is that I can't be the main investor or have any U.S. residents involved. Another option is to team up with a broker prop firm that has a $5 million commodity pool, but the owners need to be non-residents, while I could step in as a consultant.
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