English to Russian Bus/Financial Finance (general)

Current and future legislation, CFTC and SEC rulemaking and other regulatory developments may impact the manner in which digital currencies are treated for classification and clearing purposes. In particular, various digital currencies may not be excluded from the definition of a “commodity future” or “security” by such future CFTC and SEC rulemaking, respectively. As of the date of this Memorandum, ХХХ is not aware of any rules that have been formally proposed to further regulate digital currencies as commodity futures or securities. As the CFTC has declared that digital currencies are commodities, currently, only certain kinds of digital currencies may be subject to CFTC jurisdiction. ХХХ cannot be certain as to how future regulatory developments will impact the treatment of digital currencies under the law.