CFTC’s leveraged crypto framework may run out of runway before 2028, TD Cowen warns

The agency's new rulemaking push for retail leveraged crypto trading faces a clock set by the next election cycle The Commodity Futures Trading Commission has started building a federal home for leveraged retail crypto trading. TD Cowen thinks the construction schedule may not beat the 2028 election cycle. That matters because rules written by an agency can be rewritten by that agency. If the political winds shift before the framework is finished, the whole project could be reopened or shelved. On October 5, 2026, the CFTC issued an advance notice of proposed rulemaking, or ANPRM.

Source: Crypto Briefing