CFTC’s New Rules for Crypto
https://www.wsj.com/opinion/cftcs-new-rules-for-crypto-a1314e87Crypto Headlines AI:
"The regulator is launching two new frameworks: Regulation Crypto Asset Transactions (CTX) and Regulation Crypto Asset Markets (CAM).
▪️ The new rules will establish requirements for CFTC-registered exchanges that offer crypto-asset trading.
▪️ BTC, ETH,
SOL, XLM, XTZ, and XRP are classified as "digital commodities" (rather than securities) and fall under CFTC jurisdiction.
▪️ The new rules will not mandate that crypto assets be traded exclusively on CFTC-regulated platforms; such a requirement would necessitate separate legislation from Congress.
▪️ Instead, the CFTC is creating a distinct federal framework for crypto exchanges that choose to operate under a unified regulatory system. CFTC-registered crypto exchanges will be able to officially offer retail clients margin trading, leverage, and financed transactions within the scope of federal regulation.
▪️ These exchanges will be subject to federal requirements regarding the protection of client funds, the prevention of market manipulation and conflicts of interest, and the assurance of transparent trading."