The US Commodity Futures Trading Commission Acting Chairman Caroline Pham has eliminated outdated guidance on the delivery of crypto, offering exchanges more flexibility. The guidance, finalized in March 2020, had to be reevaluated in light of developments over the past 5 years. The move was recommended by the president’s crypto working group.

The CFTC under Pham has taken a more crypto-friendly approach, withdrawing the guidance to provide exchanges with more flexibility. StarkWare general counsel Katherine Kirkpatrick Bos praised the move, saying it will benefit exchanges by removing restrictions on margin or leverage. However, the guidance is not legally binding and can be changed.

Garry Krugljakow, head of Bitcoin strategy at a Berlin-based Bitcoin treasury company, sees the CFTC’s move as a signal of cleaner jurisdiction and a regulatory path for scale. The absence of guidance leaves uncertainty, with Todd Phillips from the Roosevelt Institute highlighting the importance of defining actual delivery for CFTC registration requirements.

The definition of actual delivery is crucial for determining which exchanges need to register with the CFTC. With the prior guidance replaced by nothing, there is currently no clarity on what actual delivery means and who needs to register. The lack of guidance creates uncertainty in the crypto industry.

Read more at Cointelegraph: CFTC Withdraws ‘Overly Complex’ Actual Delivery Guidance