CFTC proposes first round of crypto market regulatory rules aimed at establishing federal registration and trading standards

According to the Wall Street Journal, Michael S. Selig, chairman of the U.S. Commodity Futures Trading Commission (CFTC), said that the CFTC is proposing the first round of crypto market regulatory rules, including Crypto Asset Transactions (CTX) and Crypto Asset Markets (CAM), aiming to use existing legal authority to establish a federal regulatory framework and listing and trading standards for crypto asset trading platforms. The new framework will provide a unified federal registration path for crypto platforms that wish to be regulated by the CFTC and allow compliant platforms to offer margin, leverage, or financing-backed crypto trading to retail investors. Selig said the move was aimed at moving away from a previous reliance primarily on "regulation through enforcement" to establishing clear rules.