CFTC Chair: New Entrants Aim to Conduct Crypto Trading Through Federal Registration
TechFlow reports that on November 13, according to a CNBC interview, Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), stated that the agency has observed crypto exchanges' demand for a digital asset regulatory framework, with some new entrants seeking to register with the CFTC to avoid dealing with individual state licensing regimes separately.Selig noted that many large crypto exchanges are already registered with the CFTC because they offer derivatives, and will be able to offer crypto asset transactions involving margin, leverage, or financing under the regulatory framework. For exchanges that currently do not offer such transactions, joining the regulatory framework is voluntary. On October 5, the CFTC issued an advance notice for rulemaking to solicit feedback on the relevant framework.
TechFlow reports that on November 13, according to a CNBC interview, Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), stated that the agency has observed crypto exchanges' demand for a digital asset regulatory framework, with some new entrants seeking to register with the CFTC to avoid dealing with individual state licensing regimes separately.
Selig noted that many large crypto exchanges are already registered with the CFTC because they offer derivatives, and will be able to offer crypto asset transactions involving margin, leverage, or financing under the regulatory framework. For exchanges that currently do not offer such transactions, joining the regulatory framework is voluntary. On October 5, the CFTC issued an advance notice for rulemaking to solicit feedback on the relevant framework.
