ChainThink reports that on March 10, according to CoinDesk, CFTC Chairman Mike Selig updated the agency’s ongoing plan to provide long-awaited regulatory clarity for DeFi developers, crypto derivatives, and prediction markets.
Selig said this week at the FIA Global Clearing Markets Conference in Boca Raton, Florida, that the United States is reclaiming leadership in the digital assets space through closer coordination among regulatory agencies. He stated that his collaboration with SEC Chairman Paul Atkins on the “Project Crypto” initiative marks the end of internal disputes between the CFTC and the SEC.
In his speech, Selig reiterated that the CFTC will issue guidance clarifying how so-called prediction markets—regulated as event contracts—are to be listed and traded under U.S. law, and will initiate a rulemaking process to seek public input on how to regulate this rapidly growing sector.
He stated that the CFTC also plans to address one of the most contentious regulatory issues in the crypto industry: “For a long time, there has been uncertainty about whether software providers trigger CFTC registration requirements,” Selig said. “We intend to directly confront this issue.” The agency is also working on classifying crypto perpetual derivatives, which dominate the global crypto market.