CFTC Seeks Public Input on New Crypto Transaction Regulations

The US Commodity Futures Trading Commission (CFTC) has taken a significant step toward establishing a new regulatory framework for crypto transactions. The agency recently published an Advanced Notice of Proposed Rulemaking (ANPRM) seeking public comments on a proposed framework for retail crypto asset transactions, referred to as CTXs.

The proposed framework aims to cover retail commodity transactions involving crypto assets under the Commodity Exchange Act. The CFTC is seeking input on how to prevent abusive practices in crypto markets through a uniform national regulatory framework. It also wants to provide market participants with crypto-specific information for compliance.

CFTC Chairman Michael S. Selig emphasized that the move is intended to provide greater clarity, certainty, and consumer protection in crypto asset markets. The agency is considering creating a new subcategory of designated contract market registration specifically for CTXs, called a crypto asset market.

The CFTC will use the information and comments received through the ANPRM to inform potential future agency action. The public has 60 days from the ANPRM’s publication in the Federal Register to submit written comments. This development comes as US lawmakers continue to consider legislation related to digital asset market regulation, including the CLARITY Act, which did not advance in a recent Senate vote.