CFTC seeks public opinion on cryptocurrency trading and market regulatory framework in the United States

The US Commodity Futures Trading Commission (CFTC) has issued a proposed rulemaking advance notice regarding Regulation CTX and Regulation CAM, seeking public opinion on establishing a comprehensive regulatory framework applicable to retail commodity trading of cryptocurrency assets. The consultation focuses on preventing market abuse, providing compliance requirements and industry best practices, and establishing subcategories for registering the cryptocurrency market. CFTC Chairman Michael S. Selig stated that this action utilizes existing statutory powers to advance the federal cryptocurrency market regulatory framework, with the goal of preventing fraudulent behavior. The public must submit written comments within 60 days after the notice is published in the Federal Register.