The U.S. Commodity Futures Trading Commission (CFTC) has released updated guidance regarding tokenized assets and the use of blockchain technology for recordkeeping. This announcement comes in the wake of a failed Senate vote on the Digital Asset Market Clarity (CLARITY) Act, which was intended to delineate the regulatory responsibilities of the CFTC and the SEC.
In a notice issued on Thursday, the CFTC clarified that authorized crypto-related entities can invest customer funds in tokenized assets, as long as these tokens provide legal and economic rights equivalent to their traditional counterparts. Additionally, the CFTC expressed that it would not object to the use of blockchain for recordkeeping under these new guidelines.
CFTC Chair Michael Selig emphasized that these changes are part of the agency's efforts to enhance regulatory clarity for the crypto industry. With the recent setback in Congress, many anticipate that comprehensive crypto market structure legislation may not be achieved until 2027, prompting regulators to advance their own policies.
In a parallel development, SEC Chair Paul Atkins indicated that the SEC is prepared to propose rules on crypto assets, reflecting a proactive approach in the absence of legislative action. The SEC had already proposed regulations concerning certain investment contracts involving crypto assets earlier this year.