CFTC Chairman Michael Selig unpacked the proposed rules on the Bankless podcast: If Reg CTX is finalized, exchanges will be able to offer retail customers crypto spot margin, leverage, and financing, with collateral directly in Ethereum $ETH or Solana $SOL .
Leverage would be in line with perpetuals and futures. The current maximum is around 7x, but that isn’t a hard cap; margin requirements would be set through discussions between exchanges and the CFTC. He hopes to finalize Reg CTX in the coming months. Reg CAM would create a new “crypto asset markets” category, allowing new platforms that offer only spot leverage to obtain a federal license instead of applying state by state.
What I’m watching is whether money shifts to a different channel. Once spot trading allows leverage, some leveraged buying won’t need to be concentrated in perpetuals. Funding rates haven’t moved yet, but collateral and trading volume could be the first things to shift. $ETH is currently at 2425.31 USDT, up 0.61% over 24 hours. That gain isn’t enough to determine whether the market is bullish or bearish; it’s only a price anchor. He was disappointed that the CLARITY Act hadn’t made it to the president for signing, but said the CFTC’s authority is sufficient and that it will continue to use it and coordinate with the SEC. Tokens related to investment contracts may be able to trade more freely in the future.
#加密监管 #现货杠杆
Leverage would be in line with perpetuals and futures. The current maximum is around 7x, but that isn’t a hard cap; margin requirements would be set through discussions between exchanges and the CFTC. He hopes to finalize Reg CTX in the coming months. Reg CAM would create a new “crypto asset markets” category, allowing new platforms that offer only spot leverage to obtain a federal license instead of applying state by state.
What I’m watching is whether money shifts to a different channel. Once spot trading allows leverage, some leveraged buying won’t need to be concentrated in perpetuals. Funding rates haven’t moved yet, but collateral and trading volume could be the first things to shift. $ETH is currently at 2425.31 USDT, up 0.61% over 24 hours. That gain isn’t enough to determine whether the market is bullish or bearish; it’s only a price anchor. He was disappointed that the CLARITY Act hadn’t made it to the president for signing, but said the CFTC’s authority is sufficient and that it will continue to use it and coordinate with the SEC. Tokens related to investment contracts may be able to trade more freely in the future.
#加密监管 #现货杠杆