According to CoinMarketCap, CFTC Chair Michael Selig has appointed Amir Zaidi as chief of staff, noting that Zaidi oversaw the agency’s approval of Bitcoin BTC futures during his previous 2010–2019 tenure. According to the U.S. CFTC, CME and CFE self-certified Bitcoin futures in December 2017, placing Bitcoin derivatives under the commission’s oversight. According to CoinMarketCap and the U.S. CFTC, this links current CFTC leadership to the period when BTC futures were greenlit, a key reference point for crypto derivatives market structure.

According to the source, the U.S. market-structure effort centers on FIT21 (H.R. 4763), which passed the House on May 22, 2024 but saw no Senate vote in the 118th Congress, leaving no enacted statute from that session. source: U.S. Congress congress.gov H.R. 4763; Clerk of the U.S. House of Representatives. Under federal procedure, measures that do not pass both chambers before adjournment must be reintroduced in a new Congress, so traders should treat federal passage timing as uncertain until a fresh bill number and Senate scheduling appear on official dockets, keeping regulatory headlines as the key near-term catalysts for BTC and ETH volatility. source: Congressional Research Service Introduction to the Legislative Process; U.S. Senate Calendars and Schedules. In the interim, SEC and CFTC actions continue to define practical market structure via approvals, rulemaking, and enforcement, which historically act as immediate policy drivers for crypto market microstructure and liquidity conditions. source: U.S. Securities and Exchange Commission; U.S. Commodity Futures Trading Commission.

According to @EleanorTerrett, Former Acting CFTC Chair Caroline D. Pham is moving to MoonPay. According to @EleanorTerrett, House lawmakers are advancing crypto tax reform. According to @EleanorTerrett, the post also includes a midweek headline roundup.

According to the source, the U.S. Senate approved Mike Selig to lead the CFTC and Travis Hill to run the FDIC in a package of confirmations on Dec 19, 2025, with both roles having major potential reach into crypto markets. source: social media post dated 2025-12-19 The CFTC oversees U.S. crypto derivatives like BTC and ETH futures, so leadership changes can affect margin rules, market integrity priorities, and enforcement direction that influence liquidity and basis. source: CFTC mission and jurisdiction The FDIC supervises insured banks, meaning its chair can shape policy on crypto custody, stablecoin-related payment rails, and bank partnerships with digital-asset firms that impact fiat on/off-ramps. source: FDIC supervisory mandate Traders should monitor CME BTC and ETH futures open interest and basis, funding rates, and initial policy statements from the CFTC and FDIC for signals on enforcement tone and bank exposure to digital assets. source: CME market data conventions and agency policy communications

According to Eleanor Terrett, CFTC Acting Chair Caroline Pham will join MoonPay to lead its legal and regulatory strategy (source: Eleanor Terrett on X, Dec 17, 2025). According to Eleanor Terrett, the role explicitly focuses on legal and regulatory strategy, a core operational area for crypto payments and on-ramp providers that market participants track for compliance developments (source: Eleanor Terrett on X, Dec 17, 2025).

According to the source, the U.S. Commodity Futures Trading Commission announced it has withdrawn 'outdated' crypto guidance. According to the source, the agency characterized the prior guidance as outdated and formally removed it, marking a regulatory update relevant to digital asset market participants.

According to @EleanorTerrett, the US crypto market structure bill markup could slip into January as negotiations continue, extending the regulatory clarity timeline and keeping policy headline risk elevated for crypto assets and related equities. Source: Eleanor Terrett, Crypto In America, Dec 10, 2025, X post. According to @EleanorTerrett, President Trump has begun Federal Reserve Chair interviews, a process that can influence rate-path expectations and liquidity conditions that drive risk appetite in BTC and ETH. Source: Eleanor Terrett, Crypto In America, Dec 10, 2025, X post. According to @EleanorTerrett, the CFTC and the US Office of the Comptroller of the Currency have taken steps to bring crypto mainstream, signaling incremental regulatory integration that can affect exchange, custody, and compliant product flows. Source: Eleanor Terrett, Crypto In America, Dec 10, 2025, X post. Trading takeaways: Monitor a potential January markup window, track CFTC and OCC communications for rulemaking signals, and watch Fed Chair headlines for volatility impacts on BTC, ETH, and US crypto-exposed stocks. Source: analysis based on developments reported by Eleanor Terrett, Dec 10, 2025.

According to the source, U.S. Senator Cory Booker said the odds of passing a U.S. crypto bill are low unless Democrats are appointed as commissioners at the CFTC and SEC. Source: public comments attributed to Sen. Cory Booker circulated on X on Dec 9, 2025. CFTC and SEC decisions are made by majority vote of their commissioners, so party composition directly shapes rulemaking calendars and enforcement priorities that affect digital asset oversight. Source: U.S. Securities and Exchange Commission, Commissioners page; U.S. Commodity Futures Trading Commission, About the Commission. Prolonged vacancies or delayed confirmations would slow the translation of any congressional crypto framework into detailed agency rules, sustaining regulatory uncertainty that matters for market structure and stablecoin oversight. Source: Congressional Research Service, Cryptocurrency: Selected Policy Issues (2023). Institutional investors frequently cite U.S. regulatory uncertainty as a top barrier to allocating to digital assets, which can cap spot demand for BTC and ETH until clearer rules emerge. Source: Fidelity Digital Assets, 2023 Institutional Investor Digital Assets Study. Traders should monitor Senate confirmation schedules for SEC and CFTC nominees and related committee hearings as milestones that typically precede policy changes impacting listings, custody, and market access conditions in the U.S. Source: U.S. Senate, nominations and confirmation process overview; SEC rulemaking process resources.

According to @EleanorTerrett, the CFTC has moved to allow tokenized collateral in derivatives markets, with an explainer highlighted from @realMaxAvery on why this matters for investors, Source: @EleanorTerrett on X. For trading desks, this signals pending updates to eligible collateral lists at exchanges and FCMs that could affect margin efficiency, leverage, and liquidity management once policies are published, Source: @EleanorTerrett on X. Traders should track official notices from clearinghouses and brokers detailing acceptance criteria, margin haircuts, settlement windows, and custody controls for any tokenized assets used as collateral, Source: @EleanorTerrett on X. Key market metrics to monitor around implementation include futures-spot basis behavior, funding rates, and open interest changes alongside liquidity in tokenized Treasuries and regulated stablecoins, Source: @EleanorTerrett on X. Risk teams should prepare collateral playbooks covering on-chain transfer cut-off times, reconciliation, and rehypothecation limits if tokenized instruments become eligible under CFTC-overseen venues, Source: @EleanorTerrett on X.

According to @EleanorTerrett, CFTC Acting Chair Caroline D. Pham announced a pilot program allowing BTC, ETH, and USDC to be used as collateral in U.S. derivatives markets. Source: @EleanorTerrett on X https://twitter.com/EleanorTerrett/status/1998144000314712235 The announcement also includes new guidance on tokenized assets, including Treasuries and money market funds. Source: @EleanorTerrett on X https://twitter.com/EleanorTerrett/status/1998144000314712235 The post does not provide timing, eligible venues, or collateral haircuts, which are critical for margin usage and risk management. Source: @EleanorTerrett on X https://twitter.com/EleanorTerrett/status/1998144000314712235 Traders should watch for the official CFTC materials for implementation specifics that will determine collateral eligibility and operational mechanics. Source: @EleanorTerrett on X https://twitter.com/EleanorTerrett/status/1998144000314712235

According to the source, the U.S. CFTC has launched a pilot program to test tokenized collateral within derivatives markets. Source: @WatcherGuru tweet dated Dec 8, 2025. The source post did not specify eligible assets, margin haircuts, participating DCOs/DCMs, or the start date—details that determine leverage, margin requirements, and capital efficiency. Source: @WatcherGuru tweet dated Dec 8, 2025. Collateral eligibility and haircuts for cleared derivatives are governed by CFTC-regulated clearinghouses and exchanges, which directly affect margin models for futures and swaps. Source: U.S. CFTC overview of Designated Contract Markets (DCMs), Derivatives Clearing Organizations (DCOs), and customer funds and margin requirements. Traders should await a formal CFTC press release or Federal Register notice defining the pilot’s scope and risk controls, and monitor CME-listed crypto futures basis, open interest, and spreads for sentiment shifts tied to regulatory headlines during U.S. hours. Source: CFTC rulemaking and notice process; CME Group product listings for Bitcoin and Ether futures.

According to @EleanorTerrett, a new X broadcast titled CFTC Clears the Way While SEC Raises New Flags highlights a developing regulatory split between the CFTC and SEC; the post itself lists no specific approvals, enforcement actions, or dates, so traders should wait for the broadcast and official agency notices before repositioning. Source: X post by @EleanorTerrett on Dec 5, 2025 https://twitter.com/EleanorTerrett/status/1996988011071049882; X broadcast link https://x.com/i/broadcasts/1nAKEEQXypZKL Key watchpoints are any CFTC greenlights or SEC objections that could affect exchange listings, derivatives availability, and compliance timelines for crypto firms, pending details from the broadcast. Source: X post by @EleanorTerrett on Dec 5, 2025 https://twitter.com/EleanorTerrett/status/1996988011071049882; X broadcast link https://x.com/i/broadcasts/1nAKEEQXypZKL

According to @AltcoinDaily, the U.S. CFTC announced that spot Bitcoin and crypto can now trade on CFTC-registered exchanges to make America the crypto capital of the world. Source: Altcoin Daily on X, Dec 4, 2025, post ID 1996700163080061433. The post does not include an official CFTC release link, so traders should wait for confirmation via the CFTC Press Room at cftc.gov/PressRoom before adjusting positions based on this headline. Sources: Altcoin Daily on X, Dec 4, 2025; CFTC Press Room at cftc.gov/PressRoom.

According to the source, Kalshi announced plans to launch on-chain prediction markets on the Solana blockchain, signaling a deeper expansion into crypto, source: social media post dated December 1, 2025. Because Solana transactions are paid in SOL, participation in these markets will require SOL for gas, putting fee levels and throughput at the center of trade execution considerations, source: Solana documentation on transaction fees. Kalshi operates as a U.S. CFTC Designated Contract Market, indicating a regulated venue as it experiments with on-chain settlement, source: U.S. CFTC Designated Contract Markets list. Traders should monitor SOL spot liquidity and funding, Solana daily transactions and active addresses, and DeFi volumes to validate on-chain adoption tied to this integration, source: the source post confirms Solana integration; Solana Foundation network metrics.

According to the source, Kalshi is seeking court protection from state regulators while it appeals an adverse ruling in Nevada, aiming to limit enforcement actions during the appellate process. Source: https://t.co/RWrCZ3PrGF The firm’s request is intended to preserve continuity in event-contract trading while the appeal is pending, reducing the risk of operational disruption from state-level actions. Source: https://t.co/RWrCZ3PrGF Kalshi operates as a CFTC-designated contract market, which underscores the federal-versus-state jurisdiction issues that can affect listings and market access for event contracts. Source: https://www.cftc.gov/IndustryOversight/MarketPlatforms/DesignatedContractMarkets/index.htm Regulatory sensitivity around event markets has previously led to market interventions, as illustrated by the CFTC’s action against unregistered prediction markets, a backdrop traders should consider when assessing liquidity and listing risk. Source: https://www.cftc.gov/PressRoom/PressReleases/8488-22

According to @EleanorTerrett, Acting CFTC Chair Caroline D. Pham is recruiting CEOs for a new innovation council to advise on shaping regulations for prediction markets and crypto so the agency can “hit the ground running” in January (source: @EleanorTerrett on X, Nov 25, 2025). According to @EleanorTerrett, the post highlights a focus on prediction markets and crypto rulemaking and references a tentative Senate schedule, though further specifics were not included in the post (source: @EleanorTerrett on X, Nov 25, 2025). According to @EleanorTerrett, the January timing cue suggests traders should anticipate U.S. regulatory headlines concerning prediction markets and broader crypto oversight during that window (source: @EleanorTerrett on X, Nov 25, 2025).

According to @jchervinsky, many of the highest-demand crypto products are or may be derivatives regulated by the CFTC, but most cannot comply with the Commodity Exchange Act because it was not written for DeFi or onchain finance (source: Jake Chervinsky on X, Nov 21, 2025). According to @jchervinsky, harsh penalties under current law lead most crypto derivatives products to geofence the United States (source: Jake Chervinsky on X, Nov 21, 2025). According to @jchervinsky, the CFTC can fix this by adopting new rules that allow DeFi and onchain derivatives to compete in the free market, asserting there is no legitimate policy reason to ban crypto-powered derivatives in the United States (source: Jake Chervinsky on X, Nov 21, 2025). According to @jchervinsky, these products address key CFTC risk concerns with better technology than TradFi, U.S. taxpayers show strong demand for access, and outcomes depend on policy choices by CFTC leadership, with him expressing hope that Mike Selig will take the seat soon (source: Jake Chervinsky on X, Nov 21, 2025).

According to @jchervinsky, the prediction market sector is set to become more competitive than the current Polymarket versus Kalshi dynamic as multiple new companies and products enter the space. source: @jchervinsky on X, Nov 20, 2025 He adds that recent platform success attracted builders and that new CFTC leadership will be a key catalyst to watch over the next few years. source: @jchervinsky on X, Nov 20, 2025 For trading strategy, monitor new exchange launches, product rollouts, and CFTC leadership updates as leading indicators for shifts in event-contract availability, liquidity, and pricing dynamics across prediction markets. source: @jchervinsky on X, Nov 20, 2025

According to @iampaulgrewal, Mike Selig participated in a nomination hearing for CFTC Chair and was described as pro-innovation and pro–market structure, with a call for swift confirmation. Source: @iampaulgrewal on X, Nov 19, 2025. The CFTC regulates U.S. derivatives markets and has stated it oversees digital asset derivatives and polices spot-market fraud and manipulation, including identifying BTC and ETH as commodities in enforcement and testimony. Source: U.S. Commodity Futures Trading Commission public statements and enforcement posture; Testimony of CFTC Chair Rostin Behnam before the U.S. Senate Agriculture Committee, 2023. CME lists Bitcoin (BTC) and Ether (ETH) futures and options that fall under CFTC oversight, making leadership outcomes relevant for U.S. crypto derivatives market structure. Source: CME Group product listings; U.S. Commodity Futures Trading Commission oversight of derivatives markets. No policy change was announced in the post; confirmation remains pending, and any adjustments to crypto derivatives oversight would occur through formal CFTC actions such as rulemaking, staff guidance, or enforcement. Source: @iampaulgrewal on X, Nov 19, 2025; U.S. Commodity Futures Trading Commission rulemaking and guidance procedures.

According to @cas_abbe, the U.S. government shutdown has officially ended after 43 days as President Trump signed the bill, allowing federal agencies, markets, and pending decisions to move forward, source: @cas_abbe on X, Nov 13, 2025. For crypto traders, the reopening enables the SEC and CFTC to resume normal operations on digital asset rulemaking, filings, and enforcement actions that require active staff review, source: U.S. Securities and Exchange Commission; Commodity Futures Trading Commission. With agencies back online, regulatory filings, public comment windows, and scheduled economic releases that inform trading calendars can proceed again, restoring previously paused timelines that market participants track for headline risk in BTC and ETH, source: USA.gov; U.S. SEC; U.S. CFTC.