CFTC Chair Seeks Federal Registration Option After Binance Security Incident

Discussing the Binance security incident, CFTC Chair Michael Selig said he hopes crypto trading platforms can have a federal option to register with the agency. The comment connects the incident with a possible route for platforms to seek federal registration. Selig said he hopes registration with the Commodity Futures Trading Commission (CFTC) can be made available to this type of trading platform. In practical terms, the federal option he described would allow platforms to seek registration with the agency. His remarks center on making that path available to crypto trading platforms.