SEC · US Congress · CoinDesk
U.S. CFTC joins SEC in proposing crypto regulations, though spot-market gap lingers
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
★ Tier-1 Source
The Commodity Futures Trading Commission is proposing a pair of rules on Monday to establish U.S. cryptocurrency oversight under its powers to regulate leveraged and margin-dependent trades, trying to fill in regulatory uncertainties left by the inability of Congress to finish the job of passing a crypto law.
Key facts
- The CFTC's proposed rules are set within the Commodity Exchange Act's retail-trading elements established under the 2010 Dodd-Frank Act
- At the SEC, that's now Chairman Paul Atkins and Commissioner Mark Uyeda
- The agency's "actual delivery" exemption will also allow for transactions to be exempt that involve the real exchange of assets in less than 28 days
- Closing the spot-market gap was at the core of the Digital Asset Market Clarity Act that stalled in the U.S. Senate last month
Summary
The U.S. Commodity Futures Trading Commission is proposing a pair of related rules to govern trading of crypto that’s leveraged, margined or financed, establishing a new ype of exchange registration that would handle such transactions. The new crypto asset markets would be narrow form of the existing designated contract markets (DCMs) that are CFTC-regulated exchanges. The CFTC’s new rule proposals will be open for public-comment periods and are meant to answer some regulatory uncertainty left by the absence of a crypto market structure law from Congress.