The U.S. Commodity Futures Trading Commission (CFTC) has officially expanded the scope of its regulatory exemption for providers of passive trading software. Previously, for crypto wallets and on-chain applications to access regulated derivatives and prediction market services, they had to register as introducing brokers, incurring extremely high compliance costs. After the new rules take effect, such service providers will no longer need to complete this registration in order to offer users relevant access points. Compliance requirements for mid-sized and smaller crypto application service providers will be significantly reduced, which may drive more non-professional trading platforms to integrate with the regulated derivatives ecosystem. In the long run, this could bring incremental liquidity to BTC- and ETH-related derivatives markets and reduce the compliance participation costs for ordinary users. $BTC $ETH #加密监管 #衍生品市场 #On-chain data