CFTC Opens 60-Day Comment Period on Retail Crypto Rules
The agency is seeking input on a proposed framework for crypto commodity transactions involving retail customers. The notice begins a rulemaking process and does not establish a final rule.
The Commodity Futures Trading Commission opened a 60-day public comment period Monday on a proposed framework for retail crypto commodity transactions, beginning a rulemaking process that could shape how covered businesses operate in the United States.
The agency is seeking input on rules under the Commodity Exchange Act. Its advanced notice of proposed rulemaking considers a dedicated registration category for crypto asset exchanges handling covered transactions, as well as measures to address abusive practices and clarify compliance expectations.
The notice is an early step, not a final rule. The comment period will close 60 days after the notice is published in the Federal Register.
CFTC Chairman Michael S. Selig urged entrepreneurs to “Build here” during remarks at a Fordham University symposium in New York on Monday. He said the agency aims to protect customers from fraud while providing a path for crypto businesses serving U.S. customers to operate under federal rules.
The proposal concerns retail commodity transactions covered by Section 2(c)(2)(D) of the Commodity Exchange Act.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.