U.S. CFTC Chairman: Hopes to provide federal registration options for exchanges like Binance

According to a Reuters report citing an interview with CNBC, Michael Selig, the chairman of the Commodity Futures Trading Commission (CFTC), stated that the CFTC hopes to provide a federal-level option for exchanges like Binance to register with the CFTC in light of the recent hacking incident.

Selig previously mentioned that federal registration is a voluntary path for exchanges rather than a mandatory requirement, and that requiring all cryptocurrency exchanges to register can only be achieved through congressional legislation; however, retail cryptocurrency trading involving margin, leverage, or financing must fall under federal regulation.

The CFTC issued a notice of proposed rulemaking regarding relevant retail cryptocurrency trading rules on October 5, with the comment period ending on December 14.