CFTC Unveils Plan to Bring Crypto Exchanges Under Federal Oversight

Key Summary

The US Commodity Futures Trading Commission (CFTC) has unveiled a plan to bring crypto exchanges under federal oversight. The CFTC published an advance notice outlining Regulation CTX and Regulation CAM, which would allow crypto exchanges to register as a new type of federally regulated "crypto asset market." The proposed regulations would require exchanges to register and obtain a federal license, with leverage offerings as the trigger for oversight. If an exchange offers leverage, it would be subject to federal regulation, even if customers take delivery of their crypto. Exchanges that do not offer leverage could continue to operate under state licenses. The public has 60 days to comment on the proposal.