CFTC Chair Michael Selig said in a CNBC interview that under the agency’s proposed rules, only federally regulated cryptocurrency trading platforms would be allowed to offer leveraged trading in the United States. He said states could only provide money transmission services, drawing a line between state-level oversight and federal supervision for higher-risk crypto products. Selig also said the 100x leverage commonly seen on offshore platforms has never been allowed in the U.S. and would not be permitted under the new approach. His remarks followed the CFTC’s proposal of two new rules on Monday. The agency said it aims to use its authority over leveraged and margin trading to build a U.S. regulatory framework for crypto, addressing uncertainty left by Congress’s failure to pass comprehensive crypto legislation.
CFTC Chair Michael Selig said in a CNBC interview on Oct. 7 that under the regulator’s proposed rules, only federally regulated cryptocurrency trading platforms would be allowed to offer leveraged trading.
「States can only provide money transmission services. The 100x leverage commonly seen outside the United States has never been allowed in the U.S., and this time will be no exception.」
Earlier, the U.S. Commodity Futures Trading Commission proposed two new rules on Monday. The agency said it would use its authority over leveraged and margin trading to establish a U.S. regulatory framework for cryptocurrencies and address the regulatory uncertainty left by Congress’s failure to complete crypto legislation.
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