CFTC Withdraws Outdated Digital Assets Delivery Guidance to Support Market Innovation

The Commodity Futures Trading Commission (CFTC) has announced the withdrawal of its outdated regulatory guidance regarding the actual delivery of virtual currencies. According to an announcement by CFTC Acting Chairman Caroline D. Pham, the decision comes in light of substantial developments across the digital asset and cryptocurrency markets. The regulator indicated that moving away from legacy frameworks is intended to eliminate unnecessary regulatory complexity. "Eliminating outdated and overly complex guidance that penalizes the crypto industry and stifles innovation is exactly what the Administration has set out to do this year," Acting Chairman Pham stated. "Today’s announcement shows that with decisive action, real progress can be made to protect Americans by promoting access to safe U.S. markets." The CFTC stated that withdrawing the guidance facilitates its ongoing work to implement recommendations from the President’s Working Group on Digital Asset Markets report. Moving forward, the CFTC will evaluate whether updated guidance or frequently asked questions (FAQs) are appropriate for market participants. The regulator is also encouraging feedback and engagement from the public through its CFTC Crypto Sprint initiative.