The U.S. CFTC withdraws 2020 guidance focused on "actual delivery" of digital assets

According to market news, Caroline Pham, acting chair of the Commodity Futures Trading Commission (CFTC), stated that the agency is withdrawing "outdated and overly complex guidance" related to the delivery of digital assets.

Pham mentioned that the agency will withdraw the relevant guidance from 2020 under the Dodd-Frank Act. The Dodd-Frank Act is a federal law passed in 2010 aimed at addressing the 2008 financial crisis. The guidance focused on the "actual delivery" of digital assets. Pham stated that this is part of the recommendations made in the President's Working Group on Financial Markets report. This summer, the White House released a lengthy cryptocurrency report addressing illicit finance and tax issues, and suggested granting the CFTC the authority to regulate digital assets. "Today's announcement demonstrates that decisive action can lead to tangible progress in facilitating Americans' access to safe U.S. markets, thereby protecting the interests of the American people," Pham said on Thursday.