CFTC developing new rules for crypto exchanges to register with US regulators

CFTC Chair Mike Selig has revealed that the Commodity Futures Trading Commission is in the process of developing a new regulatory framework that would allow cryptocurrency exchanges to register with U.S. regulators. This announcement indicates a significant shift towards federal oversight in the crypto market, potentially impacting exchanges offering retail crypto on a margined, leveraged, or financed basis. The move is seen as a step towards creating a federal framework for eligible crypto venues, coexisting with the existing state-licensed spot-exchange system.