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CFTC launches rulemaking for federal retail crypto leverage framework
The CFTC says the CTX and CAM proposals would be optional for spot exchanges, because it cannot move the full crypto market under CFTC oversight without Congress.
The U.S. Commodity Futures Trading Commission has opened rulemaking for two proposed regulations, Regulation Crypto Asset Transactions (CTX) and Regulation Crypto Asset Markets (CAM), aiming to create a federal framework for platforms offering retail customers margined, leveraged, or financed crypto trading.
CryptoSlate reports the CFTC is pitching a “federal route” for U.S. crypto exchanges to access leveraged products, arguing state money transmitter licensing alone does not provide that pathway.
The agency said participation would be optional for ordinary spot exchanges, noting it cannot compel the broader crypto market onto CFTC-regulated venues without congressional action on market structure legislation.
The proposals are intended to use authority the CFTC says it already has under the Commodity Exchange Act while comprehensive legislation for crypto spot markets remains stalled, and would set up different regulatory paths depending on the services exchanges want to offer.