CFTC updates guidance on tokenized assets, blockchain records after failed vote
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
The US Commodity Futures Trading Commission (CFTC) has updated its guidance on tokenized assets and blockchain recordkeeping for registered crypto-related entities. The update clarifies that authorized companies may invest customer funds in tokenized assets if those tokens provide legal and economic rights equivalent to traditional assets. The CFTC also stated it would not object to companies using blockchain-based recordkeeping under these new rules. This update follows the recent failure of the US Senate to advance the Digital Asset Market Clarity (CLARITY) Act.
Why it matters
According to CFTC Chair Michael Selig, the changes aim to provide greater regulatory clarity for the crypto industry. The failure of the CLARITY Act suggests that Congress will not pass comprehensive crypto market legislation before 2027, likely leading regulators like the CFTC and SEC to develop their own policies independently through rulemaking.
Key context
The guidance update arrives shortly after the US Senate failed to advance the CLARITY Act, a bill intended to delineate regulatory roles between the CFTC and SEC regarding digital assets. The CFTC has already submitted a crypto market regulation plan to the White House, and the SEC has proposed rules targeting certain crypto investment contracts. Both agencies appear prepared to act without congressional legislation.
Key numbers and entities
Entities involved include the US Commodity Futures Trading Commission (CFTC), CFTC Chair Michael Selig, the US Senate, the Securities and Exchange Commission (SEC), and SEC Chair Paul Atkins. The Digital Asset Market Clarity Act (CLARITY Act) was the legislation at issue. No specific quantitative figures were provided.
What remains unclear
The article does not specify which companies or types of tokenized assets are covered by the updated guidance, nor does it detail how the CFTC will enforce these new standards. The exact content of the CFTC’s crypto market regulation plan submitted to the White House is also not disclosed.