After the SEC, the CFTC releases favorable crypto policies, relaxing registration requirements for "passive software," benefiting innovation in crypto market development.

BlockBeats news, September 18 - The U.S. Commodity Futures Trading Commission (CFTC) announced that its Market Participants Division has issued a no-action position for "passive software" providers. Under certain conditions, and where the software only helps users transact with regulated futures commission merchants, introducing brokers, or designated contract markets, staff will not recommend enforcement action against the relevant providers for failing to register as introducing brokers or their associated persons; applicable platforms must not custody user assets or make trading decisions on behalf of users.

This measure expands the case-by-case arrangement for the crypto wallet Phantom in March of this year to qualifying software providers. Industry insiders believe this may make it easier for crypto wallets, websites, and other online platforms to access regulated prediction markets and other CFTC-regulated products. The guidance is seen as conducive to the development and innovation of crypto market tools.