CFTC Submits Proposals for Crypto Perpetuals and 24/7 Trading to OIRA
CIE News ·
What Happened
CFTC Chairman Mike Selig announced the agency is moving ahead independently under existing Commodity Exchange Act statutory authority to draft and implement crypto market structure regulations. The CFTC submitted two regulatory proposals to the White House's Office of Information and Regulatory Affairs (OIRA): 'Regulation Crypto Asset Transactions' and 'Regulation Crypto Asset Markets', focusing on a Designated Contract Market (DCM) framework tailored to crypto perpetual contracts and algorithmic 24/7 onchain trading.
Why It Matters
It establishes a formal regulatory initiative concentrating on a Designated Contract Market framework for crypto perpetual contracts and 24/7 trading environments following the failure of congressional legislation.