The CFTC's proposed Regulation Crypto Asset Markets would require registered platforms to implement proof-of-reserves demands and strict prohibitions against listing cryptocurrency products that are vulnerable to market manipulation

How governments worldwide set rules for digital assets through legislation, agency rulemaking, licensing regimes and court fights.

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