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CFTC Proposes New Crypto Rules
The U.S. Commodity Futures Trading Commission (CFTC) has proposed a new regulatory framework that includes cryptocurrency trading platforms with leverage, aiming to bring a significant portion of the spot market under federal oversight after comprehensive legislation in Congress stalled. The framework establishes a new regulatory category called the Cryptocurrency Assets Market, requiring platforms to adhere to strict standards to prevent manipulation and to provide financial disclosures. Additionally, platforms must obtain prior approval from the Commission for any product utilizing leverage, although no maximum limit has been specified. This move comes after Congress failed to pass comprehensive laws for the market, which is valued at approximately one trillion dollars. The new rules face potential legal challenges due to the absence of permanent official legislation.
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