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CFTC leveraged and margined crypto rules may miss 2028 deadline
TD Cowen said the CFTC’s advance notice of proposed rulemaking is unlikely to be completed until early 2028, potentially upending momentum from the current administration.
The Block reports that TD Cowen warned the CFTC’s proposed federal crypto framework for leveraged and margined trading could be derailed by a looming 2028 election cycle.
According to The Block, TD Cowen managing director Jaret Seiberg said the CFTC’s advance notice of proposed rulemaking is likely not to be finished until early 2028, making the timeline too tight to deliver new rules before the election.
The Block also noted that while the CFTC proposed a framework for crypto platforms, it avoided taking a direct position on spot market jurisdiction, and TD Cowen said the potential delay could upend work done by the current presidential administration.