U.S. CFTC Proposes First Crypto Rules Under CTX and CAM After CLARITY Act Fails

The U.S. Commodity Futures Trading Commission (CFTC) has proposed its first-ever crypto rules under two regulatory frameworks: the Regulation ‘Crypto Asset Transactions’ (CTX) and Regulation ‘Crypto Asset Markets’ (CAM). The Commission has also called for public comments on these proposed rules, which CFTC Chair Mike Selig noted would provide a comprehensive framework for CFTC-regulated exchanges that offer crypto trading.

CFTC Crypto Rules To Establish Comprehensive Regulatory Framework

In a press release, the Commission announced that it had published an Advanced Notice of Proposed Rulemaking to provide notice of, and seek public comment regarding its first-ever crypto rules. It noted that these rules will provide a comprehensive framework that will address retail crypto trading on CFTC-regulated exchanges.

This move follows the filing of the proposed CFTC crypto rules with the White House last month. The Commission is seeking public comments on topics such as how it can prevent abusive practices in crypto trading under a uniform national regime.

It is also requesting comment on how to provide crypto participants with information on common industry practices that are known to represent best practices for compliance with regulatory requirements around crypto transactions. Furthermore, the CFTC seeks comments on how best to codify a subcategory of designated contract market registration for crypto transactions.