Regulation· ★★★★· neutral·

CFTC to Implement Crypto Exchange Rules Without Clarity Act

  • —CFTC proposed Regulation CTX for retail crypto transactions
  • —Regulation CAM would cover federally registered crypto venues
  • —Clarity Act stalled in the Senate; odds of signing in 2026 sit at 6%
  • —Spot exchanges to stay under state oversight absent a congressional mandate
Why it matters: A federal regulator is creating an alternative path for crypto exchanges without new legislation, shifting the balance between CFTC and state oversight.
Source: Crypto Briefing
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