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[US CFTC Chairman: Leveraged Retail Crypto Transactions Proposed to Require FCM, Lists BTC and Others as Examples of Digital Commodities] Foresight News reports that Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), has issued a preliminary proposed rule notice for CTX (Crypto Asset Trading Rules) and CAM (Crypto Asset Market Rules). The proposal suggests that providing margin, leverage, or financing for crypto transactions to retail customers must be intermediated by a futures commission merchant (FCM). FCMs would need to meet requirements for customer asset segregation, capital standards, and would thus be subject to anti-money laundering obligations. Regulation CAM also proposes imposing reserve proof requirements on exchanges holding customer assets in omnibus accounts. The CFTC intends to clarify that delivering crypto assets to an external non-custodial wallet within 28 days typically satisfies the "actual delivery" exception under CTX. Additionally, the CFTC is exploring long-term regulatory policies for developers who only publish software, do not solicit or receive orders, do not control trade execution, and do not custody customer assets. The agency also references the joint crypto asset classification by the CFTC and SEC, listing BTC, ETH, SOL, XLM, XTZ, and XRP as examples of "digital commodities."