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CFTC publishes plan to regulate crypto exchanges
The agency is seeking public input ahead of drafting rules, giving a 60 day comment period after the notice appears in the Federal Register.
The U.S. Commodity Futures Trading Commission has published an early plan to regulate crypto exchanges, coming about three weeks after the Clarity Act failed in the Senate, according to Decrypt.
The notice is intended to solicit public input before any formal rules are drafted. Once it is posted in the Federal Register, the plan provides a 60 day window for comments.
The CFTC’s framework would establish a federal licensing requirement for crypto exchanges, with leverage levels determining who would need to be licensed, Decrypt reported.
Decrypt also said the notice frames the rules as aimed at preventing fraud, and it notes the agency is distancing itself from past enforcement actions, including cases against Kraken, Ooki DAO, and Uniswap.