CFTC Commissioner Pham Seeks Revised Crypto 'Actual Delivery' Rule, Impacting Bitcoin and Ethereum

Caroline Pham, a commissioner at the U.S. Commodity Futures Trading Commission (CFTC), has called for a formal reconsideration and potential overhaul of the agency's guidance on "actual delivery" for digital assets. This move signals a push for clearer regulatory frameworks for cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). The existing guidance, which determines when a digital asset transaction is considered a regulated retail commodity transaction, has been a point of contention within the crypto industry. Pham argues that the current interpretation may be outdated and not fully aligned with the technological realities of blockchain-based asset delivery. A revised rule could provide more legal certainty for crypto exchanges and traders, potentially influencing market structure and compliance standards. The initiative highlights ongoing efforts within U.S. financial regulators to adapt existing rules to the evolving digital asset landscape.