According to @AltcoinDaily, the CFTC has withdrawn its prior crypto actual delivery guidance as part of a broader digital asset reform effort, signaling a regulatory reset for US retail leveraged crypto transactions; source: Altcoin Daily tweet dated Dec 11, 2025. The guidance in question is the CFTC’s 2020 Final Interpretive Guidance on Retail Commodity Transactions Involving Certain Digital Assets, which required actual delivery within 28 days to avoid retail commodity rules under 7 U.S.C. 2(c)(2)(D), shaping custody, settlement, and margin practices for US retail crypto transactions; source: CFTC Final Interpretive Guidance on Retail Commodity Transactions Involving Certain Digital Assets, 2020. Because the 2020 framework constrained how US platforms could offer margined or financed crypto to retail users, a withdrawal would remove that interpretive constraint and could alter product availability, liquidity, and spreads on US venues; source: CFTC Final Interpretive Guidance on Retail Commodity Transactions Involving Certain Digital Assets, 2020. Traders should seek confirmation via an official CFTC notice or Federal Register publication and monitor for changes in BTC and ETH spot and derivatives liquidity, adjustments to exchange margin offerings, and any new compliance guidance from US platforms; source: CFTC rulemaking and publication practices via Federal Register notices and CFTC.gov press releases.