Michael Passalacqua: CFTC launches Reg CAM framework, platform can voluntarily be included in federal regulation

Michael Passalacqua, Senior Advisor to Mike Selig, Chairman of the U.S. Commodity Futures Trading Commission, introduced the Reg CAM framework, which provides a voluntary pathway for cryptocurrency trading platforms that offer leverage, margin, or margin trading to retail clients to be subject to federal unified regulation, aiming to replace state fund transfer license regulation. Pure spot trading is generally not within this framework, and the formulation of relevant rules is in the stage of soliciting opinions.