CFTC Chair: Crypto Exchanges Are Already Seeking to Join CFTC's New Rule Framework

Nov. 13 — According to CNBC, CFTC Chair Michael Selig said the CFTC has seen demand from crypto exchanges for the new digital asset rules it proposed in October, a regulatory framework that uses a voluntary opt-in model. He said exchanges already registered with the CFTC can offer margin, leveraged or financing-type crypto asset trading under the framework, and some new entrants also hope to register federally to avoid applying for licenses state by state. Selig said that with legislative prospects dim, regulators will advance crypto oversight through rulemaking.