CFTC eases rules for passive crypto software developers after CLARITY Act fails
- —CFTC Staff Letter 26-25 extends relief from a single company, Phantom, to all qualifying software developers
- —Conditions: the software does not route orders, provide signals, or hold user funds
- —The Senate rejected the CLARITY Act 49 to 50, falling 11 votes short of the 60 needed
- —The division's position is not binding on the CFTC and can be revoked if formal rules are adopted
Why it matters: US regulators are bypassing Congress through exemptions, reducing risk for crypto developers but without legislative certainty.
Source: Cryptopolitan