CFTC Chair Cites BTC, ETH, SOL, XLM, XTZ and XRP as Examples of Digital Commodities

CFTC Chair Michael Selig provided further details on the previously announced Regulation CTX and Regulation CAM framework. The proposed rules would generally require covered retail crypto transactions to be intermediated by futures commission merchants (FCMs) and impose requirements related to customer asset segregation, capital, anti-money laundering and proof of reserves. For onchain transactions, the CFTC is proposing to clarify that delivery of crypto assets to a user’s external, non-custodial wallet within 28 days would generally satisfy the “actual delivery” exception.

Selig said the CFTC is also exploring a durable regulatory policy for developers who only publish software without soliciting or taking orders, controlling execution or holding customer assets. He also cited the CFTC and SEC’s joint crypto asset taxonomy, which lists BTC, ETH, SOL, XLM, XTZ and XRP as examples of “digital commodities.” — link