Crypto: The CFTC and the SEC accelerate the creation of a federal regulatory framework
The CFTC launched, on October 5, a consultation on a federal framework for leveraged or margin retail crypto transactions. For its part, the SEC is moving forward on digital asset custody and tokenization. Washington is thus seeking to attract innovation and capital, although Congress retains the final say over part of this architecture.
On October 5, the CFTC launched a consultation on Regulation CTX and Regulation CAM, two texts dedicated to retail crypto transactions.
The project provides for a category of federally registered exchanges, with proof of reserves and brokerage by intermediaries.
At the SEC, a proposal from October 1 would allow, under conditions, self-custody for certain advisers and regulated funds.
The CFTC opens the way to a federal market
The move comes as Donald Trump pressures the Senate to move forward on the CLARITY Act, especially in the face of international competition.
On October 5, the CFTC launched a public consultation on a national framework for leveraged, margin, or financing retail crypto transactions.
Two texts are involved. Regulation CTX would define the transactions covered, while Regulation CAM would create a new category of platforms registered with the CFTC, called "crypto asset markets."
These exchanges would especially have to prove their reserves and route retail orders through registered brokers. For Michael Selig, chairman of the CFTC, this mechanism would offer a federal option without imposing its adoption on all market participants.
"For years, entrepreneurs on this new financial frontier doubted that a place would be reserved for them in our markets. We are giving them an answer," he said. However, making federal registration mandatory would require a law.
$CFG.US
$SECZ
$CAMT.US
#CFTC
The CFTC launched, on October 5, a consultation on a federal framework for leveraged or margin retail crypto transactions. For its part, the SEC is moving forward on digital asset custody and tokenization. Washington is thus seeking to attract innovation and capital, although Congress retains the final say over part of this architecture.
On October 5, the CFTC launched a consultation on Regulation CTX and Regulation CAM, two texts dedicated to retail crypto transactions.
The project provides for a category of federally registered exchanges, with proof of reserves and brokerage by intermediaries.
At the SEC, a proposal from October 1 would allow, under conditions, self-custody for certain advisers and regulated funds.
The CFTC opens the way to a federal market
The move comes as Donald Trump pressures the Senate to move forward on the CLARITY Act, especially in the face of international competition.
On October 5, the CFTC launched a public consultation on a national framework for leveraged, margin, or financing retail crypto transactions.
Two texts are involved. Regulation CTX would define the transactions covered, while Regulation CAM would create a new category of platforms registered with the CFTC, called "crypto asset markets."
These exchanges would especially have to prove their reserves and route retail orders through registered brokers. For Michael Selig, chairman of the CFTC, this mechanism would offer a federal option without imposing its adoption on all market participants.
"For years, entrepreneurs on this new financial frontier doubted that a place would be reserved for them in our markets. We are giving them an answer," he said. However, making federal registration mandatory would require a law.
$CFG.US
$SECZ
$CAMT.US
#CFTC
