CFTC UNVEILS PLAN TO BRING CRYPTO EXCHANGES UNDER FEDERAL OVERSIGHT

Summary from the TLDR Fintech newsletter

The CFTC proposed a framework that would let crypto exchanges register under a new federal “crypto asset market” regime, with leverage or margin serving as the main trigger for federal oversight while non-leveraged exchanges could remain under state licensing. The plan would also introduce broker, AML, proof-of-reserves, and market-manipulation standards, marking a shift toward formal rulemaking after the Clarity Act failed to advance in Congress.