The Commodity Futures Trading Commission's proposal seeks to create a new registration category designated as the 'crypto asset market' under agency jurisdiction

Comprehensive legal regimes for digital assets, such as the EU's MiCA and proposed US market-structure bills, defining how tokens are issued, traded, and supervised.

Licensing, custody, and market-conduct rules for platforms where people trade digital assets, shaped by collapses like FTX and jurisdictional disputes between regulators.