CFTC Opens Rulemaking for New Crypto Market Registration Category

A new federal registration path may emerge for crypto venues handling certain retail trades, but the notice only seeks public comment and imposes no new requirements.

The notice, published Oct. 13, outlines proposed regulations for Crypto Asset Transactions and Crypto Asset Markets. The latter would add a “crypto asset market” category within designated contract market registration for venues handling transactions covered by Section 2(c)(2)(D) of the Commodity Exchange Act.

That section addresses certain retail commodity transactions offered on a leveraged, margined or financed basis. The CFTC is asking whether exchange rules should address market surveillance and customer property practices, and whether proof-of-reserves measures should shape the framework. Those are questions for public comment, not final obligations.

The effort would not require all crypto assets to trade on CFTC-registered platforms. The notice also seeks comment on whether some fully paid, open crypto transactions may remain within the agency’s jurisdiction before actual delivery or another statutory exception.

Comments are due Dec. 14, 2026.