CFTC Chair Details Plans for DeFi Rules, Crypto Derivatives Oversight and Prediction Market Guidance

CFTC Chairman Mike Selig said on March 10 the agency is advancing plans to provide regulatory clarity for DeFi developers, crypto derivatives and prediction markets, CoinDesk reports. Speaking at the FIA Global Clearing Markets Conference in Boca Raton, Florida, Selig said the U.S. is reasserting leadership in digital assets through closer regulatory coordination and highlighted his work with SEC Chairman Paul Atkins on the "Project Crypto" initiative as ending disputes between the CFTC and SEC. He said the CFTC will issue guidance on how prediction markets, regulated as event contracts, should be listed and traded under U.S. law and will launch a rulemaking process for public feedback on overseeing this segment. Selig added the CFTC intends to address whether software providers trigger CFTC registration requirements and is working on classifying crypto perpetual derivatives.