U.S. regulators aren’t wielding a big stick—they’re issuing licenses instead.
The CFTC dropped its first crypto rule proposal last night: leveraged/margin trading platforms can voluntarily apply for a “crypto asset market” license, and they’ll also have to provide proof of reserves. There’s a 60-day comment period—first, let’s hear the complaints.
But the license is voluntary, not mandatory, and spot markets aren’t covered.
Is this a milestone for compliance, or just words on paper?
#CFTC
The CFTC dropped its first crypto rule proposal last night: leveraged/margin trading platforms can voluntarily apply for a “crypto asset market” license, and they’ll also have to provide proof of reserves. There’s a 60-day comment period—first, let’s hear the complaints.
But the license is voluntary, not mandatory, and spot markets aren’t covered.
Is this a milestone for compliance, or just words on paper?
#CFTC