Key Takeaways
- • The CFTC's Market Participants Division, Division of Market Oversight, and Division of Clearing and Risk released updated crypto FAQs on September 24, 2026, addressing investment of customer funds in tokenized permitted investments.
- • The updated FAQs also clarify that registrants may use blockchain technologies to satisfy recordkeeping requirements.
- • The FAQs build on the original March 20, 2026 release and on CFTC Staff Letters 25-39 (Tokenized Collateral Guidance) and 26-05 (no-action position on digital assets accepted as margin collateral).
- • CFTC staff describe the FAQs as interpretive staff views, not binding law, and they do not amend the Commodity Exchange Act.
- • Chairman Michael S. Selig said the update is consistent with the agency's ongoing efforts to provide regulatory clarity for the crypto industry.
Summary
The Commodity Futures Trading Commission released updates to its Frequently Asked Questions on registrant and registered entity activities relating to crypto assets and blockchain technologies, according to a CFTC release dated September 24, 2026 (Release Number 9303-26). The update was issued jointly by the Market Participants Division, the Division of Market Oversight, and the Division of Clearing and Risk.
The revised FAQs address two areas. First, they cover investments of customer funds in tokenized forms of permitted investments, a point that a JD Supra summary described as allowing futures brokers to place customer funds into tokenized investments. Second, they address the use of blockchain technologies to satisfy a registrant's recordkeeping requirements.
The guidance extends the staff positions set out in CFTC Staff Letter 25-39 (Tokenized Collateral Guidance) and CFTC Staff Letter 26-05 (Staff No-Action Position Regarding Digital Assets Accepted as Margin Collateral). Per the release, the original FAQs were first issued on March 20, 2026. Commentary on the update notes that a swap dealer may exchange a tokenized form of an eligible collateral asset under the staff guidance in Letter 25-39, provided the conditions in that letter are met.
CFTC staff stress that the FAQs reflect staff views rather than binding law, and that they provide interpretive guidance only without amending the Commodity Exchange Act. Chairman Michael S. Selig said he was pleased to see staff update the FAQs, framing the action as part of the agency's ongoing effort to provide regulatory clarity for the crypto industry. Source coverage available for this story was limited to headlines, release excerpts, and summaries; the full text of the updated FAQs was not reviewed.
The revised FAQs address two areas. First, they cover investments of customer funds in tokenized forms of permitted investments, a point that a JD Supra summary described as allowing futures brokers to place customer funds into tokenized investments. Second, they address the use of blockchain technologies to satisfy a registrant's recordkeeping requirements.
The guidance extends the staff positions set out in CFTC Staff Letter 25-39 (Tokenized Collateral Guidance) and CFTC Staff Letter 26-05 (Staff No-Action Position Regarding Digital Assets Accepted as Margin Collateral). Per the release, the original FAQs were first issued on March 20, 2026. Commentary on the update notes that a swap dealer may exchange a tokenized form of an eligible collateral asset under the staff guidance in Letter 25-39, provided the conditions in that letter are met.
CFTC staff stress that the FAQs reflect staff views rather than binding law, and that they provide interpretive guidance only without amending the Commodity Exchange Act. Chairman Michael S. Selig said he was pleased to see staff update the FAQs, framing the action as part of the agency's ongoing effort to provide regulatory clarity for the crypto industry. Source coverage available for this story was limited to headlines, release excerpts, and summaries; the full text of the updated FAQs was not reviewed.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.