CFTC顾问阐释新「加密资产市场」框架：平台可自愿纳入联邦统一监管，行业是否跟进仍待观察

Senior Advisor to U.S. Commodity Futures Trading Commission (CFTC) Chairman Mike Selig and Head of the Innovation Working Group Michael Passalacqua explained that, after the Clarity Act hit a roadblock, the CFTC is advancing the Reg CAM (Crypto Asset Markets) framework, which aims to provide crypto asset trading platforms with a voluntary option to join the unified national regulation led by the CFTC. This arrangement is primarily targeted at platforms offering leveraged, margin, or financing trading to retail clients, allowing them to escape the fragmented regulatory patchwork of state money transmission licenses. Pure spot trading without leverage generally remains outside this mandatory framework. Passalacqua noted that the goal is to offer an optional federal path, but it remains unclear whether the industry will view this as an attractive compliance approach. The relevant rulemaking is currently in the comment period.