CFTC seeks public comment on a regulatory framework for crypto-asset trading and markets
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AT A GLANCE
CFTC Seeks public comment on a comprehensive regulatory framework for retail commodity transactions in crypto assets and will consider subsequent actions based on the feedback.
Article
U.S.CFTC seeks public comment on a regulatory framework for crypto-asset trading and markets
BlockBeats news,October 6, the U.S. Commodity Futures Trading Commission (CFTC) issued an Advance Notice of Proposed Rulemaking (Regulation CTX) and (Regulation CAM) concerning proposed rules to establish a comprehensive regulatory framework applicable to retail commodity transactions in crypto assets and is seeking public comment.
The consultation focuses on: how to prevent abusive conduct in crypto markets and related transactions through a unified nationwide regulatory system; how to provide explanations of compliance requirements and information on industry best practices for crypto assets; and how to establish, through rules, a new registration subcategory for designated contract markets specifically serving crypto-asset trading, namely “crypto-asset markets.”CFTC Chairman Michael S. Selig said the action would use existing statutory authority to advance a federal framework for regulating crypto markets, with the goal of preventing fraudulent conduct similar to FTX rather than pursuing accountability only after the fact.CFTC will consider subsequent rulemaking and other actions based on the feedback. The public must submit written comments within 60 days after the notice is published in the Federal Register.
Original link https://m.theblockbeats.info/flash/370360
Key points
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BlockBeats reported that the U.S. Commodity Futures Trading Commission (CFTC) issued an Advance Notice of Proposed Rulemaking concerning Regulation CTX and Regulation CAM.
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The notice seeks public comment on establishing a comprehensive regulatory framework applicable to retail commodity transactions in crypto assets.
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The consultation covers a unified nationwide regulatory system, crypto-asset compliance requirements and industry best practices, and the establishment of a registration subcategory for designated contract markets called “crypto-asset markets.”
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CFTC Chairman Michael S. Selig said the action would use existing statutory authority to advance a federal framework for regulating crypto markets, with the goal of preventing fraudulent conduct similar to FTX rather than pursuing accountability only after the fact.
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The public must submit written comments within 60 days after the notice is published in the Federal Register.
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CFTC will consider subsequent rulemaking and other actions based on the feedback.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This is a public consultation before rulemaking and does not mean that the relevant rules have formally taken effect.CFTC The public is being asked how the United States should uniformly regulate retail commodity transactions in crypto assets, how compliance requirements should be explained, and whether a new registration subcategory should be established for a market specifically serving crypto-asset trading.
Why it matters to readers
This consultation may affect the design of subsequent rules governing crypto-asset trading, including arrangements for market registration, compliance explanations, and preventing abusive conduct; however, the specific requirements will depend on the feedback and subsequent rulemaking.
Beginners should understand this as a regulatory agency gathering feedback, rather than as new rules already being implemented. They can continue to monitor when the notice is published in the Federal Register and whether formal rules are proposed after CFTC.
Risks and unknowns
The evidence comes from BlockBeats’ account; the text does not provide the CFTC original announcement link, so the full text of the formal document cannot be verified from it.
The specific date on which the notice was published in the Federal Register is not stated in the evidence; therefore, the start and end dates of the 60-day comment period cannot be confirmed.
CFTC Whether formal rules will be advanced, the final rule content, and the scope of applicability have not yet been determined.
Related Developments
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The evidence does not explain what specific binding obligations Regulation CTX and Regulation CAM will entail.
Related concepts
Advance Notice of Proposed Rulemaking
This term is not in the glossary yet. Browse related concepts in the glossary.
