TechFlow News: On May 6, according to The Block, CFTC Chairman Michael Selig stated at CoinDesk’s Consensus Miami conference this Tuesday that the CFTC plans to formally codify its prior position protecting non-custodial software developers into regulations. In March this year, the CFTC issued a “no-action” letter to cryptocurrency wallet provider Phantom, clarifying that self-custodial wallet software developers meeting specific conditions are not required to register as brokers. Selig said the CFTC will expedite rulemaking to provide clear guidance for relevant companies developing and offering software in the United States.
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