According to CFTC Chair Michael Selig, the agency is considering writing rules to protect non-custodial software developers from broker registration requirements. Speaking on Tuesday at the Consensus Miami conference, Selig said the CFTC aims to codify its March no-action letter stance that exempted crypto wallet provider Phantom from broker registration. “We’re going to work to codify that and get it in rules very soon,” Selig said, adding the guidance will help software developers “develop and offer their software in the U.S.”
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
US Top Five Bankers Association: The 《CLARITY Act》 stablecoin compromise language is insufficient, and there are still major loopholes
According to a joint statement released May 4 by five banking industry associations, including the American Bankers Association (ABA), regarding a stablecoin yield compromise proposed by Senators Tom Tillis and Angela Alsobrooks for the “Clarity Act” (CLARITY Act), each organization said the proposed wording would not be sufficient to prohibit paying stablecoin holders’ returns and interest, and called it a “significant gap that must be addressed.”
MarketWhisper1h ago
U.S. Senator: The “CLARITY Act” will be considered for deliberation next week, with a target to be signed into law before July 4th
According to a report by Bitcoin Magazine on May 6, U.S. Republican Senator Bernie Moreno said the Senate will consider the “Digital Asset Market Transparency Act” (CLARITY Act) “next week”; Moreno said: “We will put it on the president’s desk by the end of June, and he will sign it into law before July 4.”
MarketWhisper3h ago
US media investigation: Polymarket’s Panama headquarters is a law firm that previously provided services for FTX
According to an investigation published by National Public Radio (NPR) in the United States on May 5, a reporter went to the Panama headquarters address registered on Polymarket’s official site—21st floor, Oceania Business Plaza, Panama City—and found no traces of Polymarket or any of its Panama legal entities on site. The office at that address, Garcia de Paredes Law Firm, previously provided legal services to FTX.
MarketWhisper4h ago
Gate Daily Report (May 6): Strategy Q1 loss of 12.5 billion; the CFTC plans to introduce protections for non-custodial software developers
Bitcoin (BTC) continues the rebound trend since the start of the week, with a temporary quote of around $81,240 as of May 6. The U.S. Commodity Futures Trading Commission (CFTC) is seeking to further implement protective measures for non-custodial software developers. Strategy suggests it may sell Bitcoin to meet its dividend obligations, with a Q1 net loss of $12.54 billion.
MarketWhisper5h ago
