Voluntary inclusion in unified federal oversight: CFTC advances Reg CAM crypto asset market framework

Odaily reports: Michael Passalacqua, Senior Counsel to CFTC Chairman Mike Selig and head of the Innovation Working Group, introduced that after the Clarity Act stalled, the CFTC's Reg CAM, or "crypto asset market" framework, aims to provide crypto asset trading platforms with a path to voluntarily opt into CFTC-led unified national regulation. The arrangement is mainly targeted at platforms offering retail customers leveraged, margin, or financed trading, enabling them to escape the patchwork regulatory landscape of state money transmission licenses; pure spot trading without leverage generally remains outside this mandatory framework. Passalacqua said the rulemaking is currently in the public comment phase, and whether the industry finds the proposal attractive remains undetermined.