The CFTC revised its guidelines on digital assets such as tokens and blockchain ledgers after a failed vote.

- What's going on?

The U.S. Commodity Futures Trading Commission (CFTC) issued an announcement on Thursday updating its frequently asked questions (FAQs) about registered entities related to cryptocurrencies, revising guidelines first released in March.

Crucially, licensed companies can invest their clients' money in tokenized assets on the condition that "the token form of an asset shall confer legal and economic rights to its holder equal or functionally equivalent to those enjoyed by holders of traditional forms". The CFTC also noted that it would not be "objective" for firms using blockchain ledgers under this new rule.

CFTC Chairman Michael Selig said the change was part of an effort "to create regulatory clarity for the crypto industry".

Why is this important?

The move comes days after the U.S. Senate failed to pass the Digital Asset Market Clarity (CLARITY) Act, a bill that is expected to clarify the role of the CFTC and SEC in regulating digital assets.

After the closure vote failed, many expected that Congress would not be able to pass a cryptocurrency market structure law before year's end.2027 This forced regulators to push their own policies through the rule-making process. The CFTC has submitted its crypto regulation plan for consideration by the White House.

What about the SEC?

The SEC's chairman Paul Atkins said before the passage of the draft CLARITY Act that it was "ready, willing and able" to regulate cryptocurrencies if Congress did not pass legislation.

How do you connect with users in Thailand and Myanmar?

Although the rule was issued by a U.S. agency, CFTC's recognition of asset tokens and blockchain recordkeeping as legal instruments is seen as an important signal towards global regulation, including Thailand's baht-based (THB) market, which has GLT as its regulator and Bitkub as one of its main trading centers, and Myanmar's cryptocurrency exchange in limited roles, where major financial authorities are adopting standards to secure assets such as token policies in Southeast Asia under long term moves.