The CFTC has scrapped its guidance on how crypto is delivered in a transaction, giving “way more flexibility for exchanges,” says StarkWare’s Katherine Kirkpatrick Bos.
US Commodity Futures Trading Commission Acting Chairman Caroline Pham has scrapped “outdated guidance” on the delivery of crypto, which has been applauded for offering exchanges more flexibility.
“Eliminating outdated and overly complex guidance that penalizes the crypto industry and stifles innovation is exactly what the Administration has set out to do this year,” Pham said on Thursday.
The guidance, originally finalized in March 2020, related to when the “actual delivery” of crypto happened in a commodity transaction, but the CFTC said in a notice that it had to “reevaluate such guidance in light of further developments during the past 5 years.”
