The Commodity Futures Trading Commission (CFTC) took a significant step in facilitating activities related to digital currencies by canceling a special monitoring directive on digital asset derivatives. This action, effective as of March 28, marks the elimination of Recommendation 23-07, which previously imposed stricter oversight on digital currency-based products. The CFTC stated that this decision aims to ensure consistent treatment of digital asset derivatives and other products. Concurrently, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) also revoked previous guidelines requiring banks to obtain licenses for cryptocurrency-related activities. These developments reflect a broader trend among U.S. financial regulatory bodies to reduce barriers and promote responsible innovation in the digital asset space.
