Grafa logo

CFTC scraps outdated crypto guidance as US regulation shifts direction

Written by Liezl GambePublished dez. 15 2025Last Updated dez. 15 2025

Share

United States crypto regulation is entering a new phase after the Commodity Futures Trading Commission announced it would withdraw legacy digital asset guidance seen as misaligned with today’s market realities.

The decision, confirmed on 11 December, signals a regulatory pivot that could reduce compliance burdens and widen institutional access to crypto markets across the country.

The CFTC said the move reflects the rapid evolution of crypto spot markets, custody arrangements and derivatives activity over the past five years.

Regulators specifically withdrew the final interpretive guidance issued on 24 June 2020 titled “Retail Commodity Transactions Involving Certain Digital Assets.”

That framework previously outlined how the agency assessed “actual delivery” in retail crypto transactions under the Commodity Exchange Act.

The 2020 guidance was developed in the wake of the Dodd-Frank Act and focused primarily on virtual currencies used as a medium of exchange.

According to the commission, the rules now offer limited practical value and may conflict with broader regulatory objectives currently under review.

Acting chairman Caroline D. Pham framed the move as a correction aimed at restoring balance between oversight and innovation.

“Eliminating outdated and overly complex guidance that penalizes the crypto industry and stifles innovation is exactly what the Administration has set out to do this year,” Caroline D. Pham said.

Pham added that the withdrawal demonstrates how decisive regulatory action can support both investor protection and market development.

“Today’s announcement shows that with decisive action, real progress can be made to protect Americans by promoting access to safe U.S. markets,” Caroline D. Pham said.

The CFTC noted that crypto market structures have changed significantly since 2020, particularly in custody standards and derivatives usage.

Officials also highlighted potential inconsistencies between the withdrawn guidance and recommendations from the President’s Working Group on Digital Asset Markets.

That working group was established by executive order earlier this year to coordinate federal oversight of digital assets.

The commission said it will reassess whether new guidance, revised interpretations or frequently asked questions are needed.

Market participants were encouraged to engage with regulators through the agency’s Crypto Sprint initiative.

By clearing away legacy interpretations, the CFTC is positioning itself as more adaptive to innovation while maintaining its core enforcement mandate.

Industry observers view the shift as a constructive signal that regulatory clarity may improve as digital assets become more deeply embedded in US financial markets.