CFTC Grants Introducing Broker Registration Exemption Stance to Self-Custody Crypto Wallet Phantom



The U.S. Commodity Futures Trading Commission (CFTC) Division of Market Oversight has issued a "no-action" relief letter to Phantom Technologies Inc., a self-custody crypto asset wallet software developer.

The stance addresses software functionality that Phantom proposes to offer and promote, which would allow its users to trade through registered Futures Commission Merchants (FCMs), Introducing Brokers (IBs), and Designated Contract Markets (DCMs). The CFTC stated that, subject to specified conditions, the Division of Market Oversight will not recommend enforcement action against Phantom or its related parties solely for the aforementioned activities for operating as an unregistered Introducing Broker or associated person.
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