Congress failed to pass a crypto law — so Washington's regulators are writing one without them. 🏛️
The CFTC just proposed two federal rules, Regulation CTX and Regulation CAM, to govern all leveraged, margined, and financed crypto trading in the US. Exchanges offering perpetuals and margin would register under a new 'crypto asset market' category, with proof-of-reserves demands for platforms holding customer assets.
Here is the catch nobody is talking about: the rules still cannot touch plain spot trading. The direct buying and selling of $BTC and $ETH stays under state money-transmission laws — the exact gap the dead CLARITY Act was supposed to close.
The agencies also floated protection for builders. CFTC chief Selig said a person should not have to register as a broker simply because they shipped code — a big signal for DeFi developers.
One federal rulebook or 50 different state ones — which would you pick?
$BTC $ETH
#CryptoRegulation #CryptoNews #BTC
The CFTC just proposed two federal rules, Regulation CTX and Regulation CAM, to govern all leveraged, margined, and financed crypto trading in the US. Exchanges offering perpetuals and margin would register under a new 'crypto asset market' category, with proof-of-reserves demands for platforms holding customer assets.
Here is the catch nobody is talking about: the rules still cannot touch plain spot trading. The direct buying and selling of $BTC and $ETH stays under state money-transmission laws — the exact gap the dead CLARITY Act was supposed to close.
The agencies also floated protection for builders. CFTC chief Selig said a person should not have to register as a broker simply because they shipped code — a big signal for DeFi developers.
One federal rulebook or 50 different state ones — which would you pick?
$BTC $ETH
#CryptoRegulation #CryptoNews #BTC
