The Commodity Futures Trading Commission (CFTC) has announced the withdrawal of outdated guidance concerning the actual delivery of virtual currencies. This move comes as crypto asset markets have experienced significant changes.
Acting Chairman Caroline D. Pham stated, "Eliminating outdated and overly complex guidance that penalizes the crypto industry and stifles innovation is exactly what the Administration has set out to do this year. Today’s announcement shows that with decisive action, real progress can be made to protect Americans by promoting access to safe U.S. markets."
With this decision, the CFTC aims to further its work on implementing recommendations from the President’s Working Group on Digital Asset Markets report. The agency will consider whether updated guidance or frequently asked questions are necessary and invites public feedback through its Crypto Sprint initiative.
