According to CoinMeta, on October 5th, CFTC released a draft of preliminary regulations, intending to use its existing authority to regulate crypto exchanges, but these regulations did not cover the spot market. The new rules mainly target leveraged and margin trading. CFTC also proposed two related measures: regulation of crypto asset trading ( CTX ) and supervision of the crypto asset market ( CAM ). CTX clarified CFTC's jurisdiction over retail leveraged trading, while CAM aims to establish new exchange licenses to support these retail activities. The new regulations of CFTC do not affect regular spot trading and focus on preventing fraudulent activities. This move was made after the "Clear Act" failed to pass in Congress, and CFTC Chairperson Mike Selig decided to take action on their own.