News · Regulation & Policy
Chairman Michael S. Selig unveils rulemakings enabling retail leveraged trading under a single federal regime following Congress's stalled market structure bill.
Key point 1 of 3
01
CFTC proposed Regulation CTX and Regulation CAM to establish federal oversight rules for crypto trading venues .
Key point 2 of 3
02
Registered platforms will be permitted to offer margined, leveraged, or financed trading to retail customers .
Key point 3 of 3
03
Registration under the framework remains optional following the Senate's failure to pass the Clarity Act .
Context
Federal regulators historically relied on enforcement actions against crypto exchanges operating under state money-transmitter licenses, while comprehensive market structure…
Why it matters
Digital asset exchanges seeking to provide retail leverage can opt into a unified federal oversight regime instead of relying solely on disparate state-level payment licenses .
What to watch
Public publication of the full proposed rule text in the Federal Register and the opening of the formal notice-and-comment period .
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