Why CFTC's Federal Option for Centralized Exchanges Just Got Harder to Ignore
CFTC Chairman Michael Selig's voluntary federal option for centralized exchanges is gaining attention after an attacker drained about $6.36 billion from Binance in roughly 20 minutes, according to TRM Labs. The CFTC has published a proposed crypto rulebook since Congress stalled the Clarity Act, which would have forced exchange registration. Traders are watching whether federal oversight becomes a meaningful answer to custody and security concerns.