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CFTC’s New Crypto Market Plan Faces Scrutiny
The Commodity Futures Trading Commission (CFTC) has released a new plan to regulate leveraged crypto trading. The plan, which does not require Congressional approval, introduces two frameworks: Regulation CTX and Regulation CAM. These frameworks offer exchanges a voluntary route to federal registration, requiring proof-of-reserves and anti-manipulation controls. The proposal, announced on October 5, 2026, is expected to face scrutiny from courts, particularly after the Supreme Court's decision in Loper Bright Enterprises v. Raimondo, which reduced deference courts give to agency interpretations of the laws they enforce. The CFTC's strategy is seen as a clever interpretation of existing powers, but there is concern that courts may not accept it without further action. The plan's success hinges on judicial interpretation and industry adoption.