CFTC Issues No-Action Letter for Crypto Wallet Provider Phantom

The US Commodity Futures Trading Commission (CFTC) issued a no-action letter to crypto wallet provider Phantom Technologies, allowing it to connect users to registered exchanges without needing to register as an introducing broker under certain conditions. Phantom stated this allows them to offer access to regulated markets through a registered partner without incurring intermediary registration obligations. This decision marks one of the first such actions under CFTC Chair Michael Selig, who previously oversaw similar letters for platforms like Polymarket. The letter comes as Selig continues to defend the CFTC's jurisdiction over prediction markets, even as the agency signed a memorandum of understanding with the SEC last week to coordinate regulatory strategy.

(Source：Cointelegraph)