CFTC's Passalacqua on Crypto Regulation After CLARITY Stalls
Original title: CFTC’s Michael Passalacqua Reveals Plan B for Crypto Regulation After CLARITY Act Stalls
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Summary
CoinDesk's The Policy Protocol episode opens with two policy topics. The CFTC's interim final rule carves casino-style gambling out of the "swap" definition. The OCC report found that America's largest banks systematically debanked lawful businesses, based on a review of over 100,000 complaints from 2020–2025. The hosts then speak with Michael Passalacqua, Senior Advisor to CFTC Chair Mike Selig and head of the CFTC Innovation Task Force. He discusses Reg CM, a proposal that would create a federal opt-in framework for retail crypto exchanges that offer leverage. He previews an October 28 Frontier Forum on "super intelligence" and liability questions around agentic finance. Passalacqua also explains why he is most excited about operationalizing the CFTC's post-CLARITY rulemaking roadmap over the next six to twelve months. The title presents the discussion as a Plan B for crypto regulation after the CLARITY Act stalls.
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Key points
- The CFTC's interim final rule carves casino-style gambling out of the "swap" definition.
- The OCC report found that America's largest banks systematically debanked lawful businesses, based on over 100,000 complaints from 2020–2025.
- Michael Passalacqua is Senior Advisor to CFTC Chair Mike Selig and head of the CFTC Innovation Task Force.
- Passalacqua discusses Reg CM, a proposal creating a federal opt-in framework for retail crypto exchanges that offer leverage.
- He previews an October 28 Frontier Forum on "super intelligence" and liability questions around agentic finance.
- Passalacqua says he is most excited about operationalizing the CFTC's post-CLARITY rulemaking roadmap over the next six to twelve months.
Chapters
Chapters come from the timestamps in the video description.
Questions
What does the CFTC's interim final rule do?
It carves casino-style gambling out of the "swap" definition.
What did the OCC report find?
It found that America's largest banks systematically debanked lawful businesses, based on over 100,000 complaints from 2020–2025.
What is Reg CM?
It is a proposal creating a federal opt-in framework for retail crypto exchanges that offer leverage.
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