CFTC Proposes New Crypto Regulations Amidst Legislative Challenges
- Major platforms like Coinbase and Crypto.com are already registered as designated contract markets (DCMs).
- The Digital Asset Market Clarity Act aimed to close the spot-market gap but stalled in the U.S. Senate last month.
- The SEC has proposed rules on crypto asset custody, moving ahead of the CFTC in regulatory actions.
- CFTC Chairman Mike Selig is currently the sole commissioner, taking unilateral actions for nearly a year.
Both the CFTC and SEC are advancing crypto regulations despite the lack of a comprehensive U.S. market structure law, with ongoing efforts to address gaps in oversight.
The recent proposals highlight the urgency for regulatory clarity in the crypto space, especially after significant legislative setbacks like the stalled Digital Asset Market Clarity Act. (Source)
