Overview
- The NFA submitted its package to the CFTC under the Commodity Exchange Act’s 10‑day notice, so the repeal and amendment will take effect unless the CFTC intervenes shortly after receipt.
- Repealing Interpretive Notice 9073 would eliminate the standardized short‑form legends and prescribed long‑form digital‑asset risk disclosures used since 2018.
- The amendment would extend Compliance Rule 2‑51 beyond bitcoin and ether to any digital asset tied to a CFTC‑listed or CFTC‑approved commodity interest product.
- Anti‑fraud, supervision, and general risk‑disclosure duties under Rule 2‑51 and other NFA rules remain in force despite the repeal of the prescriptive notice.
- Legal guidance says most managers need not rush revisions, should reassess disclosures at the next update or for new launches, and should consult counsel where NFA pre‑approval of materials is required.