Phantom Wallet Gets CFTC Green Light for Derivatives Access
Bitcoin & Crypto News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Phantom, a prominent self-custodial crypto wallet in the Solana ecosystem, secured a significant nod from the U.S. Commodity Futures Trading Commission. The CFTC issued a no-action letter, enabling Phantom to grant users access to regulated derivatives markets without registering as a broker. This decision marks a milestone for non-custodial setups, as Phantoms software acts as a bridge to registered futures commission merchants and designated contract markets. Phantoms CEO emphasized the importance of early collaboration with regulators for safer, compliant paths, and the company plans to introduce more innovative features through partners, bolstering user trust and setting industry standards.
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