CFTC Updates Crypto Rules Amid Clarity Act Stall
The Commodity Futures Trading Commission (CFTC) has updated its FAQs about crypto assets and blockchain technologies to provide greater clarity, according to a Thursday press release. The updates address investments of customer funds in tokenized forms of permitted investments and the use of blockchain technologies to meet a registrant's recordkeeping requirements.
The CFTC originally released the FAQs on March 20, providing responses to frequently asked questions about topics addressed in CFTC Staff Letter 25-39 (Tokenized Collateral Guidance) and CFTC Staff Letter 26-05 (Staff No-Action Position Regarding Digital Assets Accepted as Margin Collateral).
CFTC Chairman Michael S. Selig said the updates are part of the agency's ongoing efforts to provide regulatory clarity for the crypto industry.
In a separate move, the CFTC submitted to the Office of Management and Budget a proposal to regulate crypto asset transactions and markets on September 17. The proposal would have made the CFTC the primary regulator for cryptocurrency under the Clarity Act, which stalled in the Senate earlier that week.