Futures Trading Act of 1921

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Futures Trading Act of 1921

Legislation in the United States that imposed a 20 cent per bushel tax on all grain futures that were not registered and regulated by the U.S. Department of Agriculture. The Act was intended to impose regulation on futures contracts and exchanges. It was declared unconstitutional in 1921.
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References in periodicals archive ?
Historically, as investment opportunities developed, Congress recognized the potential hazards and benefits of OTC Trading.(58) and in 1921 Congress enacted the Future Trading Act,(59) which taxed futures transactions not consummated on a designated market.(60) This statute was held unconstitutional,(61) but in 1922 the provisions were reenacted in the Grain Futures Act(62) and upheld.(63) In 1936, the statute was renamed the Commodity Exchange Act (CEA).(64) As part of the 1974 amendments to the CEA which expanded the coverage of the statute,(65) Congress established the Commodities Futures Trading Commission (CFTC).(66)

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