According to CoinMeta, the Commodity Futures Trading Commission (CFTC) opened a public comment period on Monday to discuss new crypto trading regulations. CFTC Chair Michael Selliger mentioned that the founder of one platform misappropriated approximately $8 billion in customer funds. The CFTC hopes to implement new regulatory rules for crypto trading, including a new category of exchanges called "crypto asset markets." Selliger stated that the commission will take necessary measures to establish a regulatory framework aimed at preventing fraud, rather than merely holding individuals accountable after the fact. Registered exchanges will be able to offer leverage and margin to retail traders, whereas state-level funds transfer licenses do not allow such transactions. Registered exchanges are required to separate customer funds, monitor manipulation behaviors, and limit conflicts of interest. The exchange mentioned is the first domestic crypto exchange to obtain all three CFTC licenses and launched leveraged retail spot crypto trading in December 2025.