CFTC Market Division Grants No-Action Relief to Crypto Wallet Provider Phantom Technologies

On Tuesday, the U.S. Commodity Futures Trading Commission's Market Participants Division issued a no-action letter to crypto wallet provider Phantom Technologies, allowing it to operate in certain ways without registering as a broker. Phantom says this position lets its non-custodial interface connect users to a registered exchange without assuming introducing broker obligations. The decision is among the first no-action responses for a crypto firm under CFTC Chair Michael Selig, who continues to assert the agency's authority over prediction markets while coordinating with the SEC.