The US Commodity Futures Trading Commission (CFTC) has repealed outdated and complex guidance on cryptocurrencies, moving toward new regulations aimed at making the crypto market more organized and transparent while aligning with modern financial technology requirements. Acting Chairperson Caroline D. Pham announced the withdrawal of the 2020 “actual delivery” guidance that previously governed crypto custody and transaction procedures. The new framework will consider the growing importance of tokenized assets, recent legislation, and the CFTC’s expanding oversight of spot crypto trading. The removal of old rules intends to reduce complexities within the crypto industry and promote innovation. Additionally, the CFTC has recently allowed Bitcoin and other cryptocurrencies to be used as collateral in regulated derivatives markets and introduced rules requiring weekly reporting and risk disclosures to enhance market transparency. For the first time at the federal level, the CFTC has approved regulated spot Bitcoin and crypto trading, enabling a US derivatives platform, Bit Nominal, to offer spot, futures, and options services next week. This development provides American traders with a secure and regulated alternative to uncertain foreign markets. Furthermore, the crypto-based prediction market Polymarket has received approval to relaunch in the US, and Gemini has obtained a license for its crypto futures and options business. These measures demonstrate US authorities’ efforts to stay aligned with rapidly evolving trends and technological advancements in the cryptocurrency space, ensuring investor protection while fostering innovative financial opportunities.
Source: bitcoinmagazine
