CFTC Chair: Crypto Exchanges Have Demand for the New Rule Framework Proposed in October

US CFTC Chair Michael Selig said the CFTC has seen demand from crypto exchanges for its new digital asset rule framework proposed in October. The framework adopts a voluntary opt-in model, under which exchanges already registered with the CFTC can offer margin, leverage, or financing-based crypto asset trading on that basis; some new entrants also hope to register federally to avoid applying for licenses state by state. Amid dim legislative prospects, the CFTC will advance crypto regulation through rulemaking.