CFTC proposes federal oversight framework for US crypto exchanges
Photo: Crypto Briefing
The Commodity Futures Trading Commission (CFTC) has proposed a new framework that could allow U.S. cryptocurrency exchanges to opt for federal oversight. This proposed structure aims to create a new registration category known as the “crypto asset market,” which would fall under the CFTC’s jurisdiction. This framework is designed to cover exchanges offering leveraged, margined, or financed retail activity, incorporating requirements like market surveillance, anti-manipulation, customer protection, and proof-of-reserves controls. Basic spot exchanges may continue to operate primarily under state money-transmitter licenses, as the CFTC currently lacks the authority to enforce universal federal registration.
Source: Crypto Briefing
