Michael Selig: CFTC to Advance Crypto Regulatory Framework Without Congressional Legislative Support

Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), stated that the agency will follow the directives of President Trump to advance the cryptocurrency regulatory framework in the absence of new legislative support from Congress. The CFTC has issued a proposed rulemaking advance notice targeting companies involved in retail customer margin, leverage, or financing transactions for crypto assets and plans to establish a new designated contract market category called 'Crypto Asset Market' (CAM). (Source: Bloomberg)