CFTC proposes federal oversight framework for US crypto exchanges
- —New "crypto asset market" category would fall under CFTC jurisdiction
- —Requirements include market surveillance, customer protection and proof-of-reserves
- —Basic spot exchanges would keep operating under state licenses
- —CFTC lacks authority to enforce universal federal registration
Why it matters: The proposal could give exchanges such as Coinbase and Binance a path to federal oversight and reduce US regulatory uncertainty.
Source: Crypto Briefing