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CFTC Provides Introducing Broker Registration Exemption Position to Self-Custodial Crypto Wallet Phantom, No Longer Requires Registration as Self-Directed Securities Broker
ChainCatcher News, the U.S. Commodity Futures Trading Commission (CFTC) Market Participants Division has issued a “no-action” letter to the self-custody crypto asset wallet software developer Phantom Technologies Inc.
The letter pertains to software features that Phantom plans to offer and promote, allowing its users to trade through registered Futures Commission Merchants (FCMs), Introducing Brokers (IBs), and Designated Contract Markets (DCMs). The CFTC states that, under certain conditions, market participants will not recommend enforcement actions against Phantom or its related personnel solely for these activities, provided the specified conditions are met.