CFTC allows regulated firms to invest in tokenized assets
Big news for crypto fans: the US Commodity Futures Trading Commission (CFTC) now lets regulated firms invest in tokenized assets, basically digital versions of traditional investments.
The agency also said staff would not object if a records entity utilized blockchain technology to create and maintain onchain records and satisfy its recordkeeping obligations, aiming to bring more clarity for the crypto industry.
Private blockchains can skip paperwork
Firms using private blockchains can skip old-school paperwork, while those on public blockchains need backup plans for record access if things go wrong.
This move comes after the US Senate's failure last week to advance the Digital Asset Market Clarity Act, so the CFTC is stepping up with its own rules.
As CFTC Chairman Mike Selig put it, "I'm pleased to see staff update these frequently asked questions consistent with the agency's ongoing efforts to provide regulatory clarity for the crypto industry."