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CFTC to Codify Non-Custodial Developer Protections Following Phantom No-Action Letter

Regulation & Policy

2026-05-06 03:41:29

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-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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