CFTC Seeks Comment on Crypto Rulebook That Leaves Spot Exchanges to the States

Crypto Insight Summary: The Commodity Futures Trading Commission published an Advanced Notice of Proposed Rulemaking covering retail crypto trading on margin, leverage or financing, and a new exchange registration category built for it. Chairman Michael Selig called it a federal option rather than a mandate. The notice Crypto Insight Analysis: Direction: Neutral Impact: Minor Impact Horizon: Mid-term (1-8 weeks) Reasoning: Regulatory clarity may boost institutional confidence but states' discretion adds uncertainty.