The US CFTC has withdrawn its 2020 guidance focusing on the "physical settlement" of digital assets.

Odaily Planet Daily reports that Caroline Pham, acting chair of the U.S. Commodity Futures Trading Commission (CFTC), stated that the agency is withdrawing "outdated and overly complex guidance" related to the delivery of digital assets. On Thursday, Pham said the agency would withdraw its 2020 guidance under the Dodd-Frank Act, a federal law passed in 2010 to address the 2008 financial crisis. This guidance focused on the "physical delivery" of digital assets.

Pham stated that this is part of a recommendation in the President's Task Force on Digital Asset Markets report. This summer, the White House released a lengthy report on cryptocurrencies, addressing issues of illicit finance and taxation, and making recommendations regarding granting the CFTC regulatory power over digital assets. (The Block)