The US Commodity Futures Trading Commission has issued updated guidance clarifying how crypto can be used as collateral under its derivatives market pilot programme.
The notice outlines requirements for futures commission merchants, including filing approval notices and reporting crypto holdings while participating in the initiative.
The CFTC said capital charges must align with SEC standards, requiring a 20% charge for Bitcoin and Ether positions and 2% for stablecoins.
The agency also limited eligible collateral in the first three months to Bitcoin, Ether and stablecoins, with weekly reporting obligations and cybersecurity disclosure requirements.
After the initial phase, firms may expand to other cryptocurrencies and reduce reporting requirements as the pilot evolves.
The CFTC added that crypto cannot be used as collateral for uncleared swaps, though tokenised versions of eligible assets may qualify if they meet regulatory standards.
The guidance reflects ongoing coordination between the CFTC and SEC as regulators work toward a more consistent framework for digital asset markets.
At the time of reporting, Bitcoin price was $69,016.81.