CFTC Chairman Michael Selig says the Binance hack strengthens the case for a federal registration option that would bring eligible crypto exchanges under U.S. cybersecurity safeguards. He discussed the plan in an October 30 CNBC interview, Stocktwits reported, contrasting offshore platforms with regulated U.S. markets.
The initiative builds on the CFTC’s October 5 consultation covering Regulation Crypto Asset Transactions, or CTX, and Regulation Crypto Asset Markets, or CAM. It concerns certain retail crypto transactions involving margin, leverage or financing, rather than a blanket registration requirement for every spot exchange.
The official notice asks what operational safeguards crypto markets should demonstrate. Questions include business-continuity measures for blockchain infrastructure and whether automated smart-contract systems should undergo testing, formal verification, audits or fail-safe controls. These are issues under consultation, rather than newly binding technical standards.
Selig previously explained that the proposed framework would give eligible exchanges a route to operate under a single federal market-regulatory regime. He acknowledged that the CFTC cannot compel all ordinary spot platforms to register without congressional action, leaving broader market-structure legislation necessary.
Public comments on the advance notice are due December 14, 2026, according to the Federal Register. That is a consultation deadline, not a launch date or compliance deadline. Today’s remarks renew the security argument for the existing initiative; they do not announce adopted rules or confirm any exchange’s registration.
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