CFTC Clarifies Crypto Collateral Rules for Derivatives Firms
- —Stablecoins may be held as residual interest in customer accounts with a 2% capital charge
- —Minimum capital charge for BTC and ETH set at 20%, matching SEC standards
- —DCOs may accept qualifying crypto as initial margin under Regulation 39.13(g)(10)
- —Crypto stays ineligible as initial or variation margin for uncleared swaps
Why it matters: Aligning with SEC capital rules cuts friction for firms straddling securities and commodities oversight, while stablecoin recognition in clearing broadens institutional use.
Source: Crypto Briefing