/
CFTC moves to codify non-custodial software protections after Phantom “no-action” precedent
May 6, 2026
< 1 min read
by Micah Abiodun
for CryptoPolitan
Share:
AI Overview
CFTC Chair Mike Selig said at Consensus Miami that the agency will convert its March no-action position for Phantom Technologies into formal rulemaking, shifting from ad hoc staff guidance to binding regulation for non-custodial software developers. The rulemaking aims to provide regulatory clarity for crypto and DeFi builders (non-custodial, DEX, protocol developers), which should reduce legal risk, encourage token launches, fundraising and broader adoption while increasing compliance and oversight expectations for projects and CEX/DEX interactions.
Bullish
Predictions Markets
See what traders are focused on
CFTC Chair Mike Selig said the agency will move to convert its March no-action position for Phantom Technologies into formal rulemaking, signaling a shift from one-off staff guidance to durable cross-industry protection for non-custodial software developers. Speaking at Consensus Miami on Tuesday, Selig framed the change as the next phase in a deliberate sequence. As...
