CFTC's crypto rulemaking may miss 2028 election deadline, TD Cowen warns
- —The CFTC released an advance notice of proposed rulemaking for leveraged crypto trading a week ago
- —TD Cowen expects finalization no earlier than late Q1 2027 or early Q2 2027
- —The rules would require proof-of-reserves audits and extend CFTC authority over state-licensed platforms
- —Expediting the process would increase the risk of a judge blocking it on procedural grounds
Why it matters: Without a permanent federal framework, US crypto regulation remains vulnerable to political shifts and legal challenges.
Source: The Block — Markets