CFTC proposes federal oversight framework for crypto exchanges
Image: DecryptThe CFTC published an advance notice of proposed rulemaking to bring crypto exchanges under federal oversight after the Clarity Act failed to pass Congress. The plan includes two linked frameworks, Regulation CTX and Regulation CAM. Regulation CTX would apply a 2010 Dodd-Frank rule to leveraged retail crypto trades, while Regulation CAM would create a tailored exchange license. Exchanges not offering leverage could continue operating under state money transmitter licenses. The public will have 60 days to comment once the notice is published in the Federal Register.
Key points
- The CFTC published an advance notice of proposed rulemaking for crypto exchange oversight after the failed Clarity Act.
- The proposal includes two linked frameworks named Regulation CTX and Regulation CAM.
- Registered exchanges under the proposal would face anti-manipulation and proof-of-reserves requirements.
Why it matters
The proposal would create the first federal regulatory pathway for crypto exchanges handling leveraged retail trades, reducing current regulatory fragmentation. Exchanges not offering leveraged products would remain subject to state-level money transmitter rules.
What's unclear
The full scope of requirements for actual delivery to avoid CFTC oversight under Regulation CTX is not defined.
Sources · 2 publishers
Crypto Briefing
Tier 2
CFTC unveils federally regulated path for crypto exchanges
Coverage timeline
- First reported by Decrypt
- Also reported by Crypto Briefing
- CryptoVideos brief published
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