CFTC proposes voluntary federal registration for crypto exchanges

The U.S. Commodity Futures Trading Commission (CFTC) is advancing a voluntary federal registration pathway for cryptocurrency exchanges. Chairman Mike Selig stated that the agency is developing this framework to bring crypto markets closer to the protections applied in American derivatives markets.

The initiative, which includes proposed regulations known as Regulation Crypto Asset Transactions (CTX) and Regulation Crypto Asset Markets (CAM), seeks input on rules for margined, leveraged, or financed retail crypto commodity transactions. The proposed safeguards would address token listings, customer funds, conflicts of interest, and proof of reserves.

While the CFTC is exploring these tailored rules, Selig noted that a universal requirement forcing all crypto assets to trade on federally registered platforms would still require congressional action. The agency is currently in the consultation phase, with a comment deadline set for December 14.