CFTC withdraws old crypto rules to modernize market oversight
The Commodity Futures Trading Commission (CFTC) recently decided to withdraw outdated and overly complicated guidelines regarding the delivery of digital assets. Caroline Pham, the acting Chair and commissioner of CFTC, hinted at this decision.
In a statement dated Thursday, December 11, Pham mentioned that the CFTC will reverse guidelines from 2020 that follow the Dodd-Frank Act, a federal regulation established in 2010 to address issues raised from the 2008 financial crisis. Notably, these guidelines, set to be withdrawn, concentrate on the “actual delivery” of digital assets.
The move follows the recent publication of a list comprising the first members of its CEO Innovation Council. Sources close to the situation…
