The US Commodity Futures Trading Commission (CFTC) has updated its guidance on tokenized assets and blockchain-based recordkeeping for registered crypto-related entities, according to a notice issued Thursday.
The updated guidance, originally released in March, now specifies that authorized companies may invest customer funds in tokenized forms of assets if the tokenized asset grants holders legal and economic rights that are the same or functionally equivalent to rights received by holders of the asset in its traditional form. The CFTC also stated it would not object to companies using blockchain-based recordkeeping under the new rules.
CFTC Chair Michael Selig described the changes as part of broader efforts to provide regulatory clarity for the crypto industry.
The regulatory update follows the US Senate's failure to advance the Digital Asset Market Clarity (CLARITY) Act, a bill designed to clarify the oversight roles of the CFTC and Securities and Exchange Commission (SEC) in digital assets. Observers expect Congress will not pass crypto market structure legislation before 2027, prompting regulators to advance their own policies through rulemaking.
The CFTC has already submitted a crypto market regulation plan for White House review. Similarly, SEC Chair Paul Atkins stated before the CLARITY vote that the agency was ready, willing, and able to propose rules on crypto in the absence of congressional action. The SEC previously proposed rules on certain investment contracts involving crypto assets in August.
