CFTC publishes final guidance on cryptocurrency actual delivery
The Commodity Futures Trading Commission (CFTC) has published its final guidance on the “actual delivery” of digital assets.
The announcement means that the US regulator appears to have decided to settle the question about whether a cryptocurrency can be delivered from one party to another.
According to a paper released by the CFTC, delivery occurs when a customer has complete control over an asset and the original offerer of it has no control by the end of a 28-day period.
“Providing clarity to market participants is one of the CFTC’s core values,” says CFTC Chairman Heath Tarbert.
“This interpretive guidance not only fulfills that commitment, but it reflects my belief that the US must be a leader in the digital asset space.”
Despite the guidance the Commission has noted that it doesn’t intend to draw a line under a strict definition for actual delivery given “the evolving nature of the commodity.”
The CFTC’s Division of Market Oversight led the development of the final interpretive guidance, which was informed by “significant” CFTC engagement with the digital asset market.