Key Takeaways
The U.S. Commodity Futures Trading Commission has proposed a new federal framework allowing crypto exchanges to opt into regulation.
According to reporting by Bitcoin Magazine, the U.S. Commodity Futures Trading Commission (CFTC) has proposed a new federal framework designed to regulate digital asset transactions and markets. Announced on a Monday, the proposed rules would allow U.S. cryptocurrency exchanges offering leveraged trades to opt into a federal regulatory regime and register with the agency.
CFTC Chairman Mike Selig stated that the action is part of ongoing efforts to ensure the United States remains a crypto leader. The rulemaking utilizes the agency's existing statutory authorities and follows President Donald Trump's directive, despite lawmakers blocking the Clarity Act last month.
The Clarity Act previously stalled due to issues raised by the banking lobby and ethical concerns from some lawmakers regarding stablecoin rewards. In response to the legislative delay, both the CFTC and the Securities and Exchange Commission have continued drafting rules independently.
The CFTC's preliminary rulemaking notice is open for a 60-day public comment period following its publication in the Federal Register. Following feedback review, the agency may issue a formal proposed rule requiring an additional comment period before any final adoption.
Source & Fact-Check Note
https://bitcoinmagazine.com/news/cftc-proposes-new-crypto-rules
