Overview
- The withdrawal removes the 28‑day ‘actual delivery’ test from 2020, which had constrained margin and leveraged retail crypto transactions, with Acting Chair Caroline Pham calling the old framework outdated and overly complex.
- The CFTC’s pilot program now permits Bitcoin, Ether and USDC to serve as collateral in regulated derivatives markets, requiring detailed reporting and risk‑management from futures commission merchants.
- Regulated spot crypto trading on CFTC‑supervised exchanges has been reported as approved, with Bitnomial preparing to offer spot, perpetuals, futures and options under the agency’s oversight as soon as next week.
- The agency convened a CEO Innovation Council featuring leaders from Gemini, Kraken, Polymarket, Bitnomial, CME, Nasdaq, ICE and Cboe to advise on market‑structure issues including tokenization and 24/7 trading.
- Senators advanced Mike Selig’s nomination to chair the CFTC on a 52–47 procedural vote, with a final confirmation likely early next week, as the commission continues to solicit public input through its Crypto Sprint initiative.