CFTC Exempts Non-Custodial Software Developers from Broker Registration Rules

The Commodity Futures Trading Commission (CFTC) has announced a no-action position that exempts non-custodial software providers from registering as brokers. This move is conditional on these developers meeting certain criteria, which includes not holding funds or making trade decisions.

The exemption allows software developers to facilitate user trading with regulated entities without the need for broker registration. Industry leaders believe this will boost crypto and prediction market trading by providing safer access through regulated partners.