First reported by BitcoinWorld
HPC and Phantom Push CFTC to Draw Clear Line Between Developers and Financial Firms in On-Chain Rules
Phantom and Hyperliquid Policy Center Urge CFTC to Codify Non-Custodial Interface Relief in Fintech RFI Response
Phantom and the Hyperliquid Policy Center submitted a joint comment letter to the CFTC responding to a request for information on fintech regulations. The letter builds on the CFTC's March no-action relief for Phantom (confirming non-custodial interfaces don't need to register as introducing brokers) and asks the Commission to codify that relief for all non-custodial interfaces and confirm that building onchain protocol software doesn't require broker registration.
3h ago1 min readenNews
Key quotes
Phantom and the Hyperliquid Policy Center submitted a joint comment letter to the CFTC today, responding to the Commission's request for information on regulations that keep fintech firms from partnering with regulated markets.
In March, the CFTC granted Phantom no-action relief confirming that a non-custodial interface providing only the technical means of access to regulated markets does not need to register as an introducing broker.
Our letter asks the Commission to build on that precedent: codify the relief for every non-custodial interface, confirm that building onchain protocol software d
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