CFTC Expands Crypto Developer Relief as SEC Clears Tokenized Stock Trading
The Commodity Futures Trading Commission (CFTC) has expanded regulatory relief for software developers in the crypto space, just hours after the Securities and Exchange Commission (SEC) opened a path for tokenized stock trading.
On Thursday, the CFTC's Market Participants Division issued a no-action position for providers of passive trading software, allowing qualifying developers to facilitate access to regulated derivatives markets without registering as introducing brokers or associated persons.
The relief applies when software connects users with registered futures commission merchants, introducing brokers and designated contract markets, subject to specified conditions. This move expands on the relief that was previously granted to Phantom Technologies in March.
Solana Policy Institute General Counsel Patrick Wilson said, 'This is a significant step forward because it takes what was previously Phantom-specific relief and turns it into a framework that other software providers can build around.'