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It's crucial that our markets infrastructure and regulation holds DCO and FCM margin/leverage to the same standard. 'out of sight, out of mind' does not make for good systemic risk protection, and 'in sight, in mind' does not make for equitable treatment and competition.
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Leverage 🧵 There's a belief in some corners that crypto platforms offer the highest leverage around. The real story is that because crypto is so volatile, leverage is carefully controlled. TradFi offers significantly higher leverage (200-750x) in regulated US financial markets
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