CFTC Opens Crypto Rulemaking Under Existing Commodity Law

The Commodity Futures Trading Commission has opened a rulemaking process for crypto transactions under existing commodity law, targeting retail products offered with leverage, margin or financing. The advance notice proposes two frameworks: Regulation Crypto Asset Transactions, or CTX, and Regulation Crypto Asset Markets, or CAM. CTX would define which leveraged, margined or financed retail crypto transactions fall under the agency’s authority under Section 2(c)(2)(D) of the Commodity Exchange Act. CAM would create a specialized registration category for designated contract markets that offer those transactions. The proposal also addresses market surveillance, asset listings, network governance and customer protections.

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