CFTC Says Crypto Wallet Software Developer Can Facilitate Trades

The Commodity Futures Trading Commission’s Market Participants Division said it has issued a no-action position in response to a request from Phantom Technologies Inc., a developer of self-custodial crypto asset wallet software, stating that it will not recommend enforcement action against Phantom for failure to register as an introducing broker.

• CFTC says in a statement the position is related to Phantom’s proposed provision and marketing of software to facilitate trading by its users with registered futures commission merchants, introducing brokers, and designated contract markets
• “Today’s staff no-action letter delivers long overdue clarity for non-custodial digital wallet software providers,” ...