ImportantCFTC Proposes Reg CM Framework to Allow Crypto Exchanges to Voluntarily Adopt Federal Regulation

The U.S. Commodity Futures Trading Commission (CFTC) has introduced a regulatory framework named Reg CM, which permits cryptocurrency exchanges to opt-in to unified federal-level regulation, instead of continuing to face fragmented state-level licensing requirements. Michael Passalacqua, Senior Advisor to CFTC Chairman Selig, has provided explanations for this framework. It remains uncertain whether the industry will adopt this voluntary mechanism.

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